Despite trading largely in the negative territory, late buying support in selective financial heavyweights sent the FBM KLCI to close marginally higher to 1,741.72 pts last Friday. The MACD Histogram, however, has extended another red bar, while the RSI is trending towards 30. The immediate resistance will be pegged around the 1,750-1,770 levels. Support will be set around the 1,730 level.

DAYANG has formed a bullish engulfing candle and subsequently re-tested the RM1.04 level with improved volumes. The MACD Line is approaching the zero level, while the RSI has risen above 50. Monitor for a breakout above the RM1.04 level to the target of RM1.13-RM1.22. Support will be anchored around the RM0.96 level.

SEAL has experienced a breakout-pullback-continuation pattern above the EMA20 level accompanied by improved volumes. The MACD Histogram has extended another green bar, while the RSI continues to trend above 50. Price target will be envisaged around the RM0.52 and RM0.54 levels. Support will be pegged around the RM0.465 level.

MALAKOF has experienced a breakout above the RM1.26 resistance level. The MACD Histogram has extended another green bar, but the RSI is overbought. Price may rebound towards the target of RM1.32-RM1.39. Support will be located around the RM1.22 level.

Source: Mplus Research - 10 Apr 2017