The FBM KLCI extended its losses for the third consecutive session, closing at 1,745.75 pts last Friday and bucking the positive developments in key regional indices. The MACD Histogram has extended another red bar, while the RSI is declining towards 50. The immediate resistance will be pegged around the 1,770-1,780 levels. Support will be set around the 1,730 level.

After rebounding from the EMA60 level, PWF has formed a bullish engulfing candle to close above the EMA9 level. The MACD Histogram has extended another green bar, while the RSI has hooked above 50. Price may rally towards the RM0.91-RM1.00 levels. Support will be anchored around the RM0.81 level.

UOADEV has been consolidating between the RM2.47 to RM2.60 levels over the past month. The MACD Histogram has extended another green bar, while the RSI is trending above 50. Monitor for a breakout above the RM2.60 level to target the RM2.77-RM2.90 levels. Support will be pegged around the RM2.47 level.

ASIAPLY rose above the EMA120 level and subsequently re-tested the RM0.185 resistance level with high volumes. The MACD Line has issued a BUY signal, while the RSI has risen above 50. Monitor for a breakout above the RM0.185 level to target the RM0.21-RM0.225 levels. Support will be set around the RM0.165 level.

Source: Mplus Research - 27 Mar 2017