The FBM KLCI further rebounded above the EMA9 (1765) level with a gapped-up formation, but found resistance at the previous high near 1,780 and closing at 1,775.39 (+8.83, +0.5%) with lower transacted volumes yesterday. The Bollinger Band is still in contraction, but the MACD histogram turned from red to green above the zero level, while the RSI is still hovering slightly above 70 level. The immediate resistant levels are observed near 1,784 and 1792, while the immediate support levels are monitored near 1754 and 1,729 respectively.

DSONIC rebounded above the EMA9 and just broke up above the MA200 line. The Bollinger Band is in expansion with the price break out above RM1.34. The MACD histogram extended another green bar above the zero level and the RSI is crossing above the 70 level. The upside targets are around RM1.38, RM1.42, RM1.47, and RM1.55. Trailing stop with daily EMA9 or new entry stop loss below RM1.30.

ENGTEX rebounded above EMA9 and the Bollinger Band expanded with its price above the middle band and there was also an increased in volumes. The MACD line is above the signal line and both are above the zero level with the histogram extending another green bar. The RSI is also rising above 70 level. Monitor for the price to break out and stay above RM1.33 to climb toward RM1.37, RM1.43, and RM1.46. Trailing stop with daily BB20MB or new entry stop loss below RM1.28.

RUBEREX rebounded above the EMA9 and the Bollinger Band expanded with an increased in volume. The MACD line crossed above zero and the histogram extended another green bar. The RSI is rising above 70 level. Monitor for the price to breakout above RM0.805 toward the next targets around RM0.825, RM0.845, RM0.865, and RM0.885. Trailing stop loss with the daily EMA9 line or new entry stop loss below RM0.790

Source: Mplus Research - 12 May 2017