Buying support in selected index heavyweights during the second half of the trading session allowed the FBM KLCI to recover all its intraday losses, before closing at an intraday high of 1,856.39 pts yesterday. The MACD Histogram has turned green, while the RSI has risen above 50. Resistance will be pegged around the 1,860-1,870 levels. Support will be set around the 1,830 level.

AEON has gapped-up to re-test the EMA120 level with improved volumes. The MACD Indicator has expanded positively above the zero level. The RSI, however, is overbought. Monitor for a breakout above the RM1.84 level, targeting the RM1.95 and RM2.08 levels. Support will be set around the RM1.75 level.

MATRIX has trended higher to close above the EMA120 level with high volumes. The MACD Histogram has extended another green bar, but RSI is below 50. Monitor for a breakout above the RM2.20 level, targeting the RM2.28-RM2.35 levels. Support will be anchored around the RM2.15 level.

WONG has experienced a short-term breakout-pullback-continuation pattern above the EMA120 level with rising volumes. The MACD Histogram has turned green, while the RSI remains above 50. Price may rally, targeting the RM1.24-RM1.30 levels. Support will be pegged around the RM1.05 level.

Source: Mplus Research - 21 Mar 2018