The FBM KLCI retreated after erasing all its intraday gains as the key index closed lower to around the 1,627.41 level yesterday. The MACD Histogram has extended another green bar, but the RSI remains below 50. Resistance will be pegged around the 1,640-1,650 levels. Support will be set around the 1,610 level.

KGB has experienced a flag-formation breakout above the RM1.30 level with rising volumes. The MACD Histogram has turned green, while the RSI remains above 50. Price target will be envisaged around the RM1.40 and RM1.50 levels. Support will be set around the RM1.22 level.

PECCA has formed a bullish engulfing candle to close above the EMA20 level accompanied by rising volumes. The MACD Histogram has extended another green bar, while the RSI has risen above 50. Monitor for a symmetrical triangle formation breakout above the RM1.08 level, targeting the RM1.15- RM1.25 levels. Support will be anchored around the RM1.02 level.

DUFU has rebounded off the EMA9 level on mild volumes. The MACD Histogram has extended another red bar, while the RSI is approaching the overbought level. Monitor for a breakout above the RM1.89 level, targeting the RM2.12-RM2.26 levels. Support will be pegged around the RM1.75 level.

Source: Mplus Research - 17 Apr 2019