Amid the lingering political uncertainties in the Eurozone, the FBM KLCI recorded its third straight session of decline to close at 1,740.09 pts last Friday. The MACD Histogram has extended another red bar, while the RSI is trending towards 50. The immediate resistance will be pegged around the 1,750- 1,770 levels. Support will be set around the 1,730 level.

KAREX has gapped up to close above the EMA20 level with improved volumes. The MACD Histogram has extended another green bar, but the RSI is slightly overbought. Monitor for a breakout above the RM2.16 level, to target the RM2.34-RM2.52 levels. Support will be anchored around the RM2.05 level.

REDTONE has formed a breakout-pullback-continuation pattern above the EMA20 level accompanied by high volumes. The MACD Histogram has extended another green bar, while the RSI has hooked above 50. Price may stage a mild pullback before targeting the RM0.615-RM0.70 levels. Support will be pegged around the RM0.46 level.

RUBEREX has rebounded off the EMA120 level after enduring profit taking activities over the past two weeks. The MACD Histogram has turned green, while the RSI is re-testing 50. Monitor for a trendline breakout above the RM0.79 level to target the RM0.83-RM0.85 levels. Support will be set around the RM0.78 level.

Source: Mplus Research - 3 Apr 2017