The FBM KLCI marched higher to close above the 1,400 psychological level as the key index closed at around the 1,403.44 level yesterday. The MACD Histogram has extended another green bar, while the RSI remains above 50. Resistance will be pegged around the 1,420-1,430 levels. Support will be set around the 1,370 level.

KKB has gapped up to re-test the RM1.73 resistance level on improved volumes. The MACD Histogram has turned green, while the RSI remains above 50. Monitor for a breakout above RM1.73, targeting the RM1.85-RM1.95 levels. Support will be located around the RM1.63 level.

NAIM has formed a bullish candle to close above the EMA120 level on high volumes. The MACD Histogram has turned green, while the RSI has risen above 50. Price may trend higher, targeting the RM0.685-RM0.765 levels. Support will be located around the RM0.565 level.

MHB has formed a bullish candle to close above the EMA120 level on high volumes. The MACD Histogram has turned green, while the RSI is approaching overbought. Monitor for a breakout above the RM0.49 level, targeting the RM0.55-RM0.62 levels. Support will be anchored around the RM0.44 level.

Source: Mplus Research - 18 May 2020