The FBM KLCI gapped up to rebound off the EMA9 level as the key index closed higher at around the 1,371.66 level yesterday. The MACD Indicator continues to point higher, while the RSI remains above 50. Resistance will be pegged around the 1,400-1,420 levels. Support will be set around the 1,340 level.

GREATEC has experienced a breakout above the RM2.49 consolidation level on improved volumes. The MACD Histogram has turned green, but the RSI is overbought. Price may advance, targeting the RM2.81- RM3.06 levels. Support will be located around the RM2.21 level.

PENTA has formed a flag-formation breakout above the RM3.79 level on mild volumes. The MACD Histogram has extended another red bar, while the RSI remains above 50. Price targets are envisaged at around the RM4.16-RM4.44 levels. Support will be located around the RM3.59 level.

TGUAN has formed a breakout-pullback-continuation pattern to close above the EMA20 level on improved volumes. The MACD Histogram has turned green, while the RSI is above 50. Monitor for a breakout above the RM3.04 level, targeting the RM3.24-RM3.38 levels. Support will be anchored around the RM2.83 level.

Source: Mplus Research - 15 Apr 2020