The FBM KLCI trended lower for the third straight session as the key index erased all its intraday gains before closing lower at an intraday low of 1,865.34 pts yesterday. The MACD Histogram has extended another red bar, but the RSI is slightly overbought. Resistance will be pegged around the 1,880-1,900 levels. Support will be set around the 1,850 level.

GASMSIA has formed a bullish engulfing candle and subsequently breached above the RM2.86 level. The MACD Histogram has turned green, while the RSI remains above 50. Price may advance, targeting the RM3.00 and RM3.15 levels. Support will be set around the RM2.78 level.

JAKS has rebounded to close above the EMA20 level accompanied by rising volumes. The MACD Histogram has turned green, while the RSI has risen above 50. Monitor for a breakout above the RM1.47 level, targeting the RM1.59-RM1.68 levels. Support will be anchored around the RM1.40 level.

MHB has rebounded off the EMA60 level with mild improved volumes. The MACD Histogram has extended another red bar, while the RSI is above 50. Monitor for a short-term trendline breakout above the RM0.80 level, targeting the RM0.865-RM0.90 levels. Support will be anchored around the RM0.76 level.

Source: Mplus Research - 25 Apr 2018