The FBM KLCI recorded minor losses after erasing all its’ intraday gains as the key index closed at around the 1,381.64 level yesterday. The MACD Histogram has extended another red bar, while the RSI remains above 50. Resistance will be pegged around the 1,400-1,420 levels. Support will be set around the 1,360 level.

PWROOT has rebounded off the EMA9 level on mild volumes. The MACD Line has expanded positively above the zero level, but the RSI is overbought. Price may trend higher, targeting the RM2.40-RM2.45 levels. Support will be located around the RM2.16 level.

GAMUDA has rebounded off the EMA20 level on mild volumes. The MACD Histogram has extended another red bar, while the RSI remains above 50. Monitor for a resistance breakout above the RM3.33 level, targeting the RM3.54-RM3.66 levels. Support will be located around the RM3.09 level.

IHH has gapped up to close above the EMA20 level on mild volumes. The MACD Histogram has turned green, while the RSI remains above 50. Monitor for a trendline breakout above the RM5.27 level, targeting the RM5.45-RM5.75 levels. Support will be anchored around the RM5.07 level.

Source: Mplus Research - 24 Apr 2020