Profit taking activities sent the FBM KLCI lower in tandem with the weakness across its regional peers as the key index closed at around 1,778.32 pts last Friday. 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.

WELLCAL has gapped-up to close above the EMA60 level. The MACD Histogram has extended another green bar, while the RSI is re-testing 50. Monitor for a breakout above the RM1.40 level, targeting the RM1.51 and RM1.60 levels. Support will be set around the RM1.30 level.

SERBADK continues to trend higher above the EMA60 level with improved volumes. The MACD Histogram has extended another green bar, while the RSI remains above 50. Monitor for a symmetrical triangle formation breakout above the RM3.34 level, targeting the RM3.59-RM3.68 levels. Support will be anchored around the RM3.12 level.

ECOWLD has experienced a short-term trendline breakout above the RM1.27 level. The MACD Histogram has turned green, but the RSI remains below 50. Price may advance, targeting the RM1.45-RM1.57 levels. Support will be pegged around the RM1.19 level.

Source: Mplus Research - 11 Jun 2018