The FBM KLCI retreated after forming a shooting star candle as the key index closed at around the 1,386.53 level yesterday. The MACD Histogram has turned red, while the RSI remains above 50. Resistance will be pegged around the 1,400-1,420 levels. Support will be set around the 1,350 level.

G3 has formed a bullish engulfing candle to close above the EMA20 level on improved volumes. The MACD Histogram has turned green, while the RSI remains above 50. Monitor for a breakout above the RM1.82 level, targeting the RM2.00-RM2.10 levels. Support will be located around the RM1.62 level.

SAM has formed a bullish candle to re-test the EMA20 level on mildly improved volumes. The MACD Histogram has extended another green bar, while the RSI remains above 50. Monitor for a breakout above the RM5.40 level, targeting the RM5.74-RM6.00 levels. Support will be located around the RM5.05 level.

ORNA has experienced a breakout above the RM0.95 level accompanied by rising volumes. The MACD Histogram has turned green, but the RSI is slightly overbought. Price may trend higher, targeting the RM1.03-RM1.10 levels. Support will be anchored around the RM0.90 level.

Source: Mplus Research - 17 Apr 2020