The FBM KLCI march higher for the fourth straight session to re-test the EMA60 level as the key index closed at around the 1,636.50 level yesterday. The MACD Histogram has turned green, but the RSI is hovering below 30. Resistance will be pegged around the 1,645-1,650 levels. Support will be set around the 1,620 level.

WCT has broken above the short term trendline of RM0.935 level with improved volumes. The MACD Histogram has extended another green bar, while the RSI has recovered from oversold. Price targets are envisaged around the RM1.02 and RM1.07 levels. Support will be set around the RM0.87 level.

KAREX has advanced to close above the EMA20 level. The MACD Histogram has extended another green bar, but the RSI remains below 50. Price may advance towards the RM0.585-RM0.62 levels. Support will be anchored around the RM0.465 level.

HIBISCS has closed above the EMA60 level on mild volumes. The MACD Indicator has issued a BUY Signal, while the RSI remains above 50. Monitor for a breakout above the RM1.12 level, targeting the RM1.24-RM1.31 levels. Support will be pegged around the RM1.01 level.

Source: Mplus Research - 31 May 2019