The FBM KLCI formed a bearish engulfing candle, implying further weakness over the near term as the key index closed lower to around the 1,632.24 level yesterday. The MACD Histogram has turned red, but the RSI remains above 50. Resistances will be pegged around the 1,650-1,660 levels. Support will be set around the 1,620 level.

TEOSENG has rebounded off the EMA60 level with slightly improved volumes. The MACD Histogram has turned green, while the RSI has risen above 50. Monitor for a breakout above the RM1.20 level, targeting the RM1.32 and RM1.37 levels. Support will be set around the RM1.10 level.

HUMEIND has formed a bullish engulfing candle to breakout above the RM0.75 symmetrical triangle formation with high volumes. The MACD Indicator has issued a BUY Signal, while the RSI has risen above 50. Price may stage a mild pullback, before targeting the RM0.825 and RM0.935 levels. Support will be anchored around the RM0.66 level.

SIGGAS has gapped up to close above the EMA20 level with improved volumes. The MACD Indicator has issued a BUY Signal, while the RSI has risen above 50. Monitor for a breakout above the RM0.905 level, targeting the RM0.995-RM1.03 levels. Support will be pegged around the RM0.865 level.

Source: Mplus Research - 2 May 2019