The FBM KLCI gapped up and subsequently rose above the EMA20 level as the key index closed at around the 1,389.55 level yesterday. The MACD Histogram has extended another red bar, 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.

WASEONG has gapped up to close above the EMA20 level on improved volumes. The MACD Histogram has extended another green bar, while the RSI is approaching 50. Price may advance, targeting the RM0.675-RM0.715 levels. Support will be located around the RM0.59 level.

REVENUE has rebounded off the EMA9 level on mild volumes. The MACD Histogram has turned green, while the RSI is slightly overbought. Monitor for a resistance breakout above the RM1.26 level, targeting the RM1.34-RM1.45 levels. Support will be located around the RM1.17 level.

GCB has formed a bullish candle to close above the EMA120 level accompanied by rising improved volumes. The MACD Histogram has turned green, while the RSI is treading marginally below the overbought level. Price targets are envisaged at around the RM2.65-RM2.78 levels. Support will be anchored around the RM2.24 level.

Source: Mplus Research - 6 May 2020