The FBM KLCI erased all its intraday gains after trading mostly in the positive territory as the key index closed lower to around the 1,854.50 pts last Friday. The MACD Histogram has extended another green bar, but the RSI remains below 50. Resistance will be pegged around the 1,880-1,890 levels. Support will be set around the 1,

IOIPG has formed a bullish engulfing candle to close above the EMA20 level with improved volumes. The MACD Histogram has turned green, while the RSI has risen above 50. Monitor for a consolidation breakout above RM1.61, targeting the RM1.79 and RM1.87 levels. Support will be set around the RM1.47 level.

PENTA has formed a bullish engulfing candle to close above the EMA20 level with improved volumes. The MACD Histogram has issued a BUY Signal, but the RSI remains below 50. Price may advance, targeting the RM2.66-RM2.82 levels. Support will be anchored around the RM2.11 level.

DSONIC has rebounded to close above the EMA20 level. The MACD Histogram has turned green, while the RSI is re-testing 50. Monitor for a trendline breakout above the RM0.95 level, targeting the RM1.04- RM1.09 levels. Support will be pegged around the RM0.87 level.

Source: Mplus Research - 21 May 2018