Bargain hunting activities in selected blue chips lifted the FBM KLCI higher as key index closed at around the 1,637.30 level last Friday. The MACD Histogram has extended another red bar, while 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.

DRBHCOM has rebounded off the EMA9 level with improved volumes. The MACD Histogram has turned green, while the RSI remains above 50. Monitor for a breakout above the RM2.29 level, targeting the RM2.45 and RM2.58 levels. Support will be set around the RM2.16 level.

HOHUP has experienced a flag-formation breakout above the RM0.475 level with rising volumes. The MACD Histogram has turned green, while the RSI has risen above 50. Price may advance, targeting the RM0.515 and RM0.55 levels. Support will be anchored around the RM0.44 level.

FAJAR has formed a bullish engulfing candle above the EMA60 level accompanied by rising volumes. The MACD Histogram has extended another red bar, while the RSI has risen above 50. Monitor for a breakout above the RM0.45 level, targeting the RM0.495-RM0.52 levels. Support will be pegged around the RM0.415 level.

Source: Mplus Research - 6 May 2019