The FBM KLCI formed a bearish engulfing candle to reject the EMA9 level as the key index closed lower to around the 1,641.94 level yesterday. The MACD Histogram has extended another green bar, but the RSI remains oversold. Resistance will be pegged around the 1,650-1,660 levels. Support will be set around the 1,630 level.

KUB has gapped-up to close above the EMA20 level accompanied by rising volumes. The MACD Histogram has turned green, while the RSI remains above 50. Price may trend higher, targeting the RM0.455 and RM0.485 levels. Support will be set around the RM0.385 level.

MYCRON has formed a bullish engulfing candle to close above the EMA120 level with high volumes. The MACD Histogram has turned green, while the RSI is re-testing 50. Price targets are envisaged at the RM0.335-RM0.36 levels. Support will be anchored around the RM0.28 level.

HUMEIND has advanced to close above the EMA120 level. The MACD Histogram has extended another green bar, while the RSI is re-testing 50. Monitor for a trendline breakout above the RM0.725 level, targeting the RM0.80 and RM0.85 levels. Support will be set around the RM0.685 level.

Source: Mplus Research - 10 Apr 2019