The FBM KLCI extended its gains after briefly re-testing the 1,800 psychological as the key index closed at around the 1,785.81 pts yesterday. The MACD Histogram has extended another green bar, but the RSI remains below 50. Resistance will be pegged around the 1,800-1,820 levels. Support will be located around the 1,760 level

UCHITEC has rebounded off the EMA120 level, forming a bullish engulfing candle. The MACD Histogram has turned green, while the RSI has risen has recovered from the oversold position. Monitor for a trendline breakout above the RM2.88 level, targeting the RM3.05 and RM3.18 levels. Support will be set around the RM2.78 level.

YONGTAI has experienced a short-term consolidation breakout above the RM1.44 level with improved volumes. The MACD Histogram has extended another green bar, while the RSI remains above 50. Price may advance, targeting the RM1.59-RM1.68 levels. Support will be anchored around the RM1.38 level.

BAUTO has formed a bullish engulfing candle to close above the EMA20 level. The MACD Histogram has extended another green bar, but the RSI remains below 50. Monitor for a consolidation breakout above RM2.31, targeting the RM2.47-RM2.66 levels. Support will be pegged around the RM2.10 level.

Source: Mplus Research - 8 Jun 2018