Bargain hunting in selected blue chips lifted the FBM KLCI as the key index closed higher to around the 1,627.44 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.

WTK has experienced a symmetrical triangle formation breakout above the RM0.67 level with high volumes. The MACD Histogram has extended another green bar, while the RSI has risen above 50. Price may advance, targeting the RM0.715-RM0.77 levels. Support will be set around the RM0.62 level.

COMFORT has formed a bullish engulfing candle to re-test the EMA120 level. The MACD Indicator has issued a BUY Signal, while the RSI is treading below 50. Price target will be envisaged around the RM0.915 and RM0.965 levels. Support will be anchored around the RM0.83 level.

TEOSENG has experienced a breakout above the RM1.14 level to re-test the EMA60 level with mild volumes. The MACD Histogram has extended another green bar, while the RSI remains below 50. Monitor for a breakout above the RM1.14 level, targeting the RM1.26-RM1.32 levels. Support will be pegged around the RM1.06 level.

Source: Mplus Research - 24 Apr 2019