The recovery on the FBM KLCI was short-lived as the key index gapped-down and closed lower at around the 1,775.84 pts on Monday. The MACD Histogram has extended another red bar, while the RSI is oversold. Resistance will be pegged around the 1,790-1,800 levels. Support will be located around the 1,760 level.

MUDA has formed the breakout-pullback-continuation pattern above the EMA20 level with improved volumes. The MACD Histogram has turned green, while the RSI is above 50. Price target will be envisaged around the RM2.96 and RM3.20 levels. Support will be set around the RM2.50 level.

PAVREIT has extended its gains to close above the EMA120 level. The MACD Histogram has extended another green bar, while the RSI has risen above 50. Monitor for a breakout above RM1.50, targeting the RM1.60-RM1.65 levels. Support will be anchored around the RM1.41 level.

BINACOM has gapped-up to close above the EMA60 level accompanied by improved volumes. The MACD Indicator has issued a BUY Signal, while the RSI remains above 50. Monitor for a breakout above the RM0.45 level, targeting the RM0.51-RM0.56 levels. Support will be pegged around the RM0.40 level.

Source: Mplus Research - 30 May 2018