The FBM KLCI was powered above the 1,400 psychological level as the key index closed at around the 1,407.78 level ahead of the extended weekend break. The MACD Histogram has turned green, while the RSI remains above 50. Resistance will be pegged around the 1,420-1,430 levels. Support will be set around the 1,360 level.

ISTONE has rebounded to re-test the EMA120 level on improved volumes. The MACD Histogram has turned green, while the RSI remains above 50. Monitor for a potential pennant-formation breakout above the RM0.18 level, targeting the RM0.20-RM0.215 levels. Support will be located around the RM0.165 level.

GBGAQRS has extended its gains above the EMA9 level on mild volumes. The MACD Line has risen above the zero level, but the RSI is overbought. Monitor for a resistance breakout above the RM0.88 level, targeting the RM0.945-RM0.99 levels. Support will be located around the RM0.80 level.

CJCEN has rebounded to re-test the EMA60 level on mildly improved volumes. The MACD Line remains above the zero level, but the RSI is overbought. Monitor for a potential flag-formation breakout above the RM0.295 level, targeting the RM0.315-RM0.325 levels. Support will be anchored around the RM0.28 level.

Source: Mplus Research - 4 May 2020