The FBM KLCI lingered mostly in the positive territory before the eleventh hour profit taking on selected index heavyweights sent the key index to close lower at around the 1,848.20 pts yesterday. The MACD Histogram extended another green bar, while the RSI remains below 50. Resistance will be pegged around the 1,860-1,880 levels. Support will be set around the 1,830 level.

MYNEWS has breached above the RM1.55 resistance level with high volumes. The MACD Line has risen above the zero level, but the RSI is overbought. Price may stage a mild consolidation before targeting the RM1.80 and RM1.90 levels. Support will be set around the RM1.43 level.

GFM has experienced a symmetrical triangle formation breakout above the RM0.53 level accompanied by improved volumes. The MACD Indicator has issued a BUY Signal, while the RSI is re-testing 50. Price may advance towards the RM0.59-RM0.625 levels. Support will be anchored around the RM0.49 level.

SURIA has extended its gains to close above the EMA60 level. The MACD Line has risen above the zero level, while the RSI remains above 50. Monitor for a consolidation breakout above the RM1.73 level, targeting the RM1.94-RM2.09 levels. Support will be pegged around the RM1.61 level.

Source: Mplus Research - 16 May 2018