The FBM KLCI opened on a high and reached an intraday high of 1787.54, but closed lower at 1,778.15 (-0.50, +0.03%). The MACD histogram bar has turned from green to red above the zero level and the RSI is crossing down below the 70 level. The next immediate resistant levels are observed near 1792, while the immediate support levels are monitored near 1,754 and 1,729 respectively.

LONBISC rebounded above the Bollinger Band's middle band and expanded upward with an increase in volume. The MACD histogram extended another green bar above the zero level, while the RSI is crossing above 50 and is approaching the 70 level. Monitor for the price breakout above RM0.780 for the next upside targets around RM0.805 and RM0.830 respectively. Trailing stop with daily EMA9 or new entry stop loss below RM0.760.

MUDAJYA rebounded above the Bollinger Band's middle band with higher volumes. The MACD histogram has turned to a green bar, from red and the RSI is rising to almost the 70 level. Monitor for the price to breakout and stay above RM1.24 to envisage a move towards RM1.30, RM1.36, and RM1.42 respectively. Trailing stop with daily BB20MB or new entry stop loss below RM1.18.

TSRCAP rebounded above the EMA9 and Bollinger Band and extended upward with an increase in volume. The MACD histogram also extended another green bar almost to the zero level, while the RSI is rising to almost the 70 level. Monitor for the price to breakout above RM0.785 toward the next targets around RM0.830 and RM0.850 respectively. Trailing stop loss with the daily EMA9 line or new entry stop loss below RM0.755.

Source: Mplus Research - 17 May 2017