The FBM KLCI recovered all its intraday losses to edge mildly higher as the key index closed at around the 1,397.25 level yesterday. The MACD Histogram has extended another green bar, while the RSI remains below 50. Resistance will be pegged around the 1,420-1,430 levels. Support will be set around the 1,370 level.

PENTA has experienced a consolidation breakout above the RM4.18 level on rising volumes. The MACD Histogram has turned green, but the RSI is slightly overbought. Price targets are envisaged at around the RM4.71-RM5.08 levels. Support will be located around the RM3.84 level.

ADVCON has formed a bullish candle to breakout above the RM0.32 level on high volumes. The MACD Histogram has turned green, while the RSI remains above 50. Price may trend higher, targeting the RM0.355-RM0.38 levels. Support will be located around the RM0.29 level.

DATAPRP has gapped up to close above the EMA120 level on high volumes. The MACD Histogram has turned green, but the RSI is overbought. Price may advance, targeting the RM0.185-RM0.205 levels. Support will be anchored around the RM0.14 level.

Source: Mplus Research - 15 May 2020