Tracking the gains on Wall Street overnight, the FBM KLCI staged a mild recovery as the key index advanced to close around the 1,632.83 level yesterday. The MACD Histogram has turned green, but the RSI remains oversold. Resistance will be pegged around the 1,650-1,660 levels. Support will be set around the 1,620 level.

After finding support above the EMA60 level, UZMA has gapped-up to close above the EMA20 level with improved volumes. The MACD Histogram has extended another green bar, while the RSI remains below 50. Monitor for a breakout above the RM0.995 level, targeting the RM1.07 and RM1.17 levels. Support will be set around the RM0.92 level.

KPS has advanced to close above the EMA9 level with improved volumes. The MACD Indicator has issued a BUY Signal, while the RSI remains above 50. Monitor for a consolidation breakout above the RM1.43 level, targeting the RM1.54-RM1.63 levels. Support will be anchored around the RM1.36 level.

JHM has formed a bullish candle and rebounded off the EMA9 level. The MACD Histogram has extended another red bar, while the RSI remains above 50. Monitor for a breakout above the RM1.33 level, targeting the RM1.45 and RM1.50 levels. Support will be set around the RM1.25 level.

Source: Mplus Research - 3 Apr 2019