The FBM KLCI broke above the recent high of 1,759 for three days and it also attained an intraday high of 1,770 before closing at 1,767.92 (-1.00, -0.6%) yesterday. The Bollinger Band is expanding further above the middle band. The MACD histogram has also extended above zero level with additional green bars, while the RSI is almost touching the 70 level. The immediate resistant levels are observed at around 1,772 and 1,792, while the immediate support levels are seen around 1,729, 1,714, followed by the next critical support at 1,690.

SKPRES rebounded from RM1.25 with a higher low around the 200 Moving Average line. The MACD crossed up the signal line but is still below zero level, while the RSI is hovering below 50 level. Monitor for price breakout above RM1.30 to target around RM1.35 and RM1.42. Support should be observed around the RM1.24 level. Trailing stop with daily EMA9 upon breakout.

XINHWA rebound above the Bollinger Band’s middle band and further broke out above RM1.23 after a sideway consolidation. The MACD crossed up above the signal line with the histogram turning green. The immediate upside targets to envisage are at RM1.32 and RM1.36. Trailing stop with daily EMA9 or new entry stop loss below RM1.20.

PESONA rebounded above the Bollinger Band’s middle band toward previous high around RM0.735. The MACD has crossed above the signal line, while the RSI is hovering above 50 level. Monitor for the price to breakout RM0.735 and to target the RM0.785 and RM0.915 levels . Trailing stop loss with the daily EMA9 line.

Source: Mplus Research - 28 Apr 2017