The FBM KLCI extended its losses after treading mostly in the negative territory before closing at 1,735.84 pts yesterday. The MACD Histogram has extended another red bar, while the RSI hovered below 50. The immediate resistance will be pegged around the 1,750-1,770 levels. Support will be set around the 1,730 level.

DELEUM has formed a bullish engulfing candle and subsequently retested the RM1.08 level with high volumes. The MACD Histogram has extended another green bar, while the RSI has risen above 50. Monitor for a breakout above the RM1.08 level to target the RM1.16-RM1.22 levels. Support will be anchored around the RM0.99 level.

GADANG has experienced a breakout-pullback-continuation pattern above the RM1.28 level with improved volumes. The MACD Histogram has turned green, while the RSI continues to trend above 50. Price target will be envisaged around the RM1.40 and RM1.50 levels. Support will be pegged around the RM1.28 level.

PADINI has experienced a breakout-pullback-continuation pattern above the EMA20 level. The MACD Histogram has turned green, while the RSI continues to trend above 50. Monitor for a follow-through buying interest to breakout above the RM3.06 level to target the RM3.20-RM3.40 levels. Support will be located around the RM2.87 level.

Source: Mplus Research - 12 Apr 2017