Tracking the recovery across global stockmarkets, the FBM KLCI gapped-up to extend its gains as the key index closed at 1,842.92 pts last Friday. The MACD Histogram has turned green, but the RSI has tripped below 50. Resistance will be pegged around the 1,860-1,880 levels. Support will be set around the 1,830 level.

LAYHONG has formed a bullish engulfing candle to close above the EMA120 level with improved volumes. The MACD Histogram has turned green, while the RSI remains above 50. Monitor for a consolidation breakout above the RM0.995, targeting the RM1.06 and RM1.09 levels. Support will be set around the RM0.92 level.

SERNKOU has experienced a symmetrical triangle formation breakout above the RM1.61 level with improved volumes. The MACD Histogram has extended another green bar, while the RSI remains above 50. Price may rally, targeting the RM1.71-RM1.80 levels. Support will be anchored around the RM1.52 level.

SUPERMX has experienced a breakout-pullback-continuation pattern to close above the EMA20 level. The MACD Histogram has turned green, while the RSI is above 50. Monitor for a breakout above the RM2.70 level, targeting the RM2.87-RM3.09 levels. Support will be anchored around the RM2.45 level.

Source: Mplus Research - 12 Mar 2018