The FBM KLCI trended lower for the third straight session as the key index closed at an intraday low of around 1,764.16 pts yesterday. The MACD Histogram has extended another green bar, but the RSI remains below 50. Resistance will be pegged around the 1,780-1,800 levels. Support will be located around the 1,740 level.

E&O has experienced a breakout above the RM1.54 level accompanied by improved volumes. The MACD Histogram has turned green, but the RSI is remains below 50. Price may trend higher, targeting the RM1.62 and RM1.69 levels. Support will be set around the RM1.46 level.

GFM has experienced a symmetrical triangle formation breakout above the RM0.55 level with high volumes. The MACD Indicator has issued a BUY Signal, while the RSI has risen above 50. Price may advance, targeting the RM0.625-RM0.66 levels after a mild pullback. Support will be anchored around the RM0.50 level.

STAR has rebounded to close above the EMA60 level. The MACD Histogram has turned green, while the RSI remains above 50. Monitor for a breakout above RM1.21, targeting the RM1.31-RM1.40 levels. Support will be pegged around the RM1.13 level.

Source: Mplus Research - 13 Jun 2018