The FBM KLCI gapped down and trended lower in line with the weakness across its regional peers as key index closed at around the 1,618.53 level yesterday. The MACD Histogram has extended another red bar, while the RSI slipped below 50. Resistances will be pegged around the 1,640-1,650 levels. Support will be set around the 1,600 level.

AIRASIA has formed a bullish engulfing candle to close above the EMA20 level. The MACD Histogram has extended another red bar, but the RSI remains above 50. Monitor for a breakout above the RM2.68 level, targeting the RM2.90 and RM3.05 levels. Support will be located around the RM2.56 level.

FRONTKN has extended its gains to close above the EMA9 level with high volumes. The MACD Histogram has turned green, while the RSI remains above 50. Price may advance, targeting the RM1.43 and RM1.50 levels. Support will be anchored around the RM1.27 level.

3A has experienced a breakout-pullback-continuation formation to close above the EMA20 level with high volume. The MACD Histogram has extended another green bar, while the RSI has risen above 50. Price may trend higher, targeting the RM0.985-RM1.02 levels. Support will be pegged around the RM0.885 level.

Source: Mplus Research - 10 May 2019