The FBM KLCI rebounded above the Bollinger Band's middle band around 1,765, but found resistance at the EMA9 before closing at 1,768.28 (+1.11, +0.1%). The MACD histogram extended another red bar below the zero level and the MACD line crossed below the signal line, while the RSI is hovering slightly above the 50 level. This is the first significant bearish divergence formation since the 1Q017 rally. The next immediate resistant levels are near 1,792 and 1,800, while the immediate support levels are near 1,754 and the critical level near 1,729.

LCTH's stock price rebounded above the EMA9 and EMA200 lines. The MACD histogram extended another green bar, while the RSI is rising above 40 level. Monitor for the price to breakout and stay above RM0.550 to envisage a move toward RM0.585 and RM0.615 respectively. Trailing stop with daily EMA9 or new entry stop loss below RM0.525.

EG's stock price rebounded above the EMA9, EMA200 line, and above Bollinger Band's middle band. The MACD histogram turned from red to green, while the RSI is rising above the 55 level. Monitor for the price to breakout and stay above RM0.890 to envisage a move toward RM0.935 and RM0.985. Trailing stop with daily EMA9 or new entry stop loss below RM0.860.

BCB rebounded above the MA 200 line and above the Bollinger Band's middle band. The MACD histogram has extended another green bar and almost at the zero level, while the RSI is crossing the 50 level. Monitor for the price to breakout above RM0.485 toward the next upside targets around RM0.525 and RM0.550. Trailing stop loss with the daily EMA9 line or new entry stop loss below RM0.465.

Source: Mplus Research - 22 May 2017