The FBM KLCI took another beating as the key index sank below the 1,800 psychological level and subsequently erased all its year-to-date gains to close at around 1,775.66 pts yesterday. The MACD Histogram has extended another red bar, while the RSI remains oversold. Resistance will be pegged around the 1,800-1,820 levels. Support will be set around the 1,760 level.

AEON has halted a four-day losing streak to close above the EMA20 level. The MACD Histogram has extended another red bar, while the RSI remains above 50. Monitor for a short-term trendline breakout above RM2.37, targeting the RM2.66 and RM2.83 levels. Support will be set around the RM2.16 level.

PESTECH has rebounded to re-test the EMA9 level. The MACD Histogram has extended another red bar, while the RSI remains above 50. Monitor for a breakout above RM1.64, targeting the RM1.79-RM1.88 levels. Support will be anchored around the RM1.54 level.

SKPRES eked out minor gains to maintain its position above the EMA20 level with rising volumes. The MACD Histogram has extended another red bar, while the RSI is above 50. Monitor for a breakout above the RM1.55 level, targeting the RM1.66-RM1.75 levels. Support will be pegged around the RM1.45 level.

Source: Mplus Research - 25 May 2018