The FBM KLCI resume trading in a downbeat manner as the key index lingered mostly in the negative territory before closing lower at around the 1,601.87 level yesterday. The MACD Line continues to drift below the zero level, while the RSI has tripped into the oversold level. Resistances will be pegged around the 1,620-1,630 levels. Support will be set around the 1,590 level.

TALIWRK has extended its gains to close above the EMA20 level. The MACD Histogram has extended another green bar, while the RSI has recovered from the oversold level. Price targets are envisaged at the RM0.99 and RM1.03 levels. Support will be located around the RM0.91 level.

DNONCE has gapped up to re-test the RM0.475 resistance level with improved volumes. The MACD Histogram has extended another green bar, while the RSI remains above 50. Monitor for a consolidation breakout above the RM0.475 level, targeting the RM0.52 and RM0.555 levels. Support will be anchored around the RM0.43 level.

WPRTS has formed a bullish engulfing candle to close above the EMA120 level with improved volumes. The MACD Histogram has extended another green bar, while the RSI is approaching 50. Price may advance, targeting the RM3.88-RM4.00 levels. Support will be pegged around the RM3.45 level.

Source: Mplus Research - 24 May 2019