The FBM KLCI marched higher above the 1,400 psychological level as the key index closed at around the 1,407.34 level last Friday. The MACD Line has risen above the zero level, but the RSI is slightly overbought. Resistance will be pegged around the 1,420-1,455 levels. Support will be set around the 1,370 level.

PENTA has gapped up to re-test the EMA60 level on improved volumes. The MACD Histogram has turned green, while the RSI remains above 50. Monitor for a breakout above the RM4.09 level, targeting the RM4.58-RM4.84 levels. Support will be located around the RM3.68 level.

DUFU has gapped up to re-test the EMA60 level on improved volumes. The MACD Histogram has turned green, while the RSI remains above 50. Monitor for a breakout above the RM3.40 level, targeting the RM3.71-RM4.06 levels. Support will be located around the RM3.06 level.

CANONE has formed a breakout-pullback-continuation pattern above the EMA9 level accompanied by rising volumes. The MACD Histogram has turned green, but the RSI is overbought. Price may trend higher, targeting the RM2.62-RM2.70 levels. Support will be anchored around the RM2.40 level.

Source: Mplus Research - 20 Apr 2020