The FBM KLCI extended its losses after lingering mostly in the negative territory as the key index closed at around the 1,845.03 pts yesterday. The MACD Histogram has turned red, while the RSI has tripped below 50. Resistance will be pegged around the 1,880-1,890 levels. Support will be set around the 1,830 level.

AWC has experienced a trendline breakout to close above the RM0.75 level with improved volumes. The MACD Histogram has extended another green bar, while the RSI has risen above 50. Price may advance, targeting the RM0.83 and RM0.875 levels. Support will be set around the RM0.70 level.

The uptrend intact formation was established after BAUTO gapped up with improved volumes. The MACD Indicator has issued a BUY Signal, while the RSI remains above 50. Monitor for a consolidation breakout above RM2.29, targeting the RM2.47-RM2.60 levels. Support will be anchored around the RM2.17 level.

CMMT has rebounded to close above the EMA60 level with some improved volumes. The MACD Histogram has extended another green bar, while the RSI remains above 50. Monitor for a breakout above the RM1.21 level, targeting the RM1.35-RM1.47 levels. Support will be pegged around the RM1.12 level.

Source: Mplus Research - 23 May 2018