Last minute buying support amongst selective index heavyweights sent the FBM KLCI higher to close at 1,747.19 pts yesterday. The MACD Histogram has extended another red bar, while the RSI is approaching the overbought level. The immediate resistance will be pegged around the 1,750-1,770 levels. Support will be set around the 1,730 level.

SUNCON has formed a bullish engulfing candle after finding support along the EMA20 level. The MACD Histogram has turned green, while the RSI is continues to trend above 50. Monitor for a breakout above the RM1.82 level, to target the RM1.90-RM2.00 levels. Support will be anchored around the RM1.75 level.

GUNUNG has gapped-up to close above the EMA9 level accompanied by high volumes. The MACD Histogram has turned green, while the RSI continues to trend above 50. Monitor for a breakout above the RM0.545 level, to target the RM0.575-RM0.595 levels. Support will be pegged around the RM0.515 level.

VS experienced a short-term symmetrical triangle formation breakout with improved volumes. The MACD Histogram has turned green, while the RSI has risen above 50. Price may rally towards the target of RM1.90-RM2.00. Support will be set around the RM1.67 level.

Source: Mplus Research - 5 Apr 2017