The FBM KLCI endured a choppy trading session before trending higher for the fourth straight session as the key index closed at around the 1,682.23 level last Friday. The MACD Line has expanded positively above the zero level, but the RSI is overbought. Resistances will be pegged around the 1,700-1,710 levels. Support will be set around the 1,660 level.

REVENUE has experienced a symmetrical triangle formation breakout above the RM1.33 level with high volumes. The MACD Histogram has turned green, but the RSI is overbought. Price may stage a mild pullback, before targeting the RM1.46 and RM1.50 levels. Support will be located around the RM1.27 level.

KGB has formed a bullish engulfing candle to close above the EMA60 on mildly improved volumes. The MACD Histogram has extended another green bar, but the RSI remains above 50. Monitor for a consolidation breakout above the RM1.29 level, targeting the RM1.38 and RM1.41 levels. Support will be anchored around the RM1.21 level.

MYEG has extended its gains to close above the EMA20 level accompanied by rising volumes. The MACD Indicator has issued a BUY Signal, while the RSI remains above 50. Price may trend higher, targeting the RM1.54-RM1.63 levels. Support will be pegged around the RM1.35 level.

Source: Mplus Research - 24 Jun 2019