The FBM KLCI extended its gains to close above the EMA20 level for the first time since January 2020 as the key index closed at around the 1,369.92 level yesterday. The MACD Histogram has extended another green bar, while the RSI is approaching the overbought level. Resistance will be pegged around the 1,400-1,455 levels. Support will be set around the 1,320 level.

UCHITEC has experienced a short-term consolidation breakout above the RM2.02 level on rising volumes. The MACD Histogram has extended another green bar, while the RSI remains above 50. Price may advance, targeting the RM2.25-RM2.35 levels. Support will be located around the RM1.88 level.

GAMUDA has experienced a resistance breakout above the RM3.03 level on improved volumes. The MACD Histogram has extended another green bar, while the RSI remains above 50. Price may trend higher, targeting the RM3.30-RM3.45 levels. Support will be pegged around the RM2.82 level.

TAKAFUL has rebounded to re-test the EMA20 level on improved volumes. The MACD Histogram has extended another green bar, while the RSI has risen above 50. Monitor for a resistance breakout above the RM3.62 level, targeting the RM4.12-RM4.44 levels. Support will be anchored around the RM3.20 level.

Source: Mplus Research - 8 Apr 2020