The FBM KLCI took a beating alongside with the negative performances across the Asian region as the key index closed to around the 1,624.23 level yesterday. The MACD Histogram has turned red, while the RSI has tripped into the oversold region. Resistance will be pegged around the 1,640-1,650 levels. Support will be set around the 1,610 level.

SERBADK has experienced a short-term consolidation breakout above the RM3.85 level. The MACD Indicator has issued a BUY Signal, while the RSI is re-testing 50. Price may trend higher, targeting the RM3.96 and RM4.03 levels. Support will be set around the RM3.77 level.

AXREIT has rebounded to remain above the EMA20 level. The MACD Histogram has extended another red bar, while the RSI remains above 50. Monitor for a consolidation breakout above the RM1.84 level, targeting the RM1.93-RM2.00 levels. Support will be anchored around the RM1.78 level.

ECOWLD has formed a bullish candle to re-test the EMA60 level with high volumes. The MACD Indicator has issued a BUY Signal, while the RSI has risen above 50. Monitor for a breakout above the RM0.95 level, targeting the RM1.01 and RM1.05 levels. Support will be set around the RM0.905 level.

Source: Mplus Research - 12 Apr 2019