The FBM KLCI rebounded to recoup some of its previous session’s losses as the key index closed higher to around the 1,740.62 pts yesterday. The MACD Histogram has extended another red bar, while the RSI has recovered from the oversold position. Resistance will be pegged around the 1,760-1,780 levels. Support will be located around the 1,720 level.

UMW has recouped most of its previous session’s losses after rebounding off the EMA120 level. The MACD Histogram has turned green, while the RSI remains above 50. Price may advance, targeting the RM6.70 and RM6.95 levels. Support will be set around the RM6.12 level.

MMSV has gapped-up to re-test the EMA9 level, forming a bullish candle. The MACD Histogram has turned green, while the RSI has risen above 50. Monitor for a trendline breakout above RM1.39, targeting the RM1.51-RM1.60 levels. Support will be anchored around the RM1.34 level.

BJTOTO has formed a breakout-pullback-continuation pattern above the EMA20 level. The MACD Histogram has turned green, but the RSI is oversold. Price may stage a mild pullback, before targeting the RM2.60-RM2.65 levels. Support will be pegged around the RM2.33 level.

Source: Mplus Research - 1 Jun 2018