Bargain hunting activities in selected index heavyweights lifted the FBM KLCI to halt a four-day losing streak and to close at 1,797.40 pts last Friday. The MACD Histogram has extended another red bar, while the RSI has recovered from the oversold position. Resistance will be pegged around the 1,800- 1,820 levels. Support will be set around the 1,770 level.

NOTION has gapped-up to close above the EMA60 level with improved volumes. The MACD Histogram has turned green, while the RSI remains above 50. Monitor for a trendline breakout above RM0.615, targeting the RM0.695 and RM0.745 levels. Support will be set around the RM0.56 level.

STAR has experienced a flag-formation breakout above the RM1.10 level. The MACD Histogram has turned green, while the RSI has rebounded above 50. Price may trend higher, targeting the RM1.19- RM1.26 levels. Support will be anchored around the RM1.04 level.

HANDAL has experienced a breakout above the RM0.365 level with high volumes. The MACD Indicator has issued a BUY Signal, while the RSI remains above 50. Price may stage a minor pullback before targeting the RM0.405-RM0.43 levels. Support will be pegged around the RM0.33 level.

Source: Mplus Research - 28 May 2018