The FBM KLCI rejected the EMA20 level as the key index trended lower to close at around the 1,635.68 level yesterday. The MACD Histogram has extended another green bar, but the RSI remains below 50. Resistance will be pegged around the 1,650-1,660 levels. Support will be set around the 1,610 level.

CHINWEL has experienced a trendline breakout above the RM1.84 level with improved volumes. The MACD Indicator has issued a BUY Signal, while the RSI has risen above 50. Price may advance, targeting the RM1.94-RM2.00 levels. Support will be set around the RM1.77 level.

BPPLAS has experienced a breakout above the RM1.09 level with high volumes. The MACD Histogram has extended another green bar, while the RSI is overbought. Monitor for a slight pullback, before targeting the RM1.17 and RM1.22 levels. Support will be anchored around the RM1.04 level.

JHM has formed a bullish engulfing candle above the EMA9 level with high volumes. The MACD Indicator has issued a BUY Signal, while the RSI is treading marginally below the overbought level. Monitor for a breakout above the RM1.37 level, targeting the RM1.45-RM1.53 levels. Support will be pegged around the RM1.30 level.

Source: Mplus Research - 26 Apr 2019