The FBM KLCI recorded its fifth consecutive day of gains as the key index closed higher at around the 1,423.97 level yesterday. The MACD Histogram has extended another green bar, while the RSI is approaching overbought. Resistance will be pegged around the 1,460-1,480 levels. Support will be set around the 1,400 level.

REVENUE has formed a bullish candle to close above the EMA9 level on high volumes. The MACD Histogram has turned green, while the RSI remains above 50. Monitor for a breakout above the RM1.27 level, targeting the RM1.40-RM1.45 levels. Support will be anchored around the RM1.16 level.

VSTECS has formed a flag-formation breakout above the RM1.23 level on improved volumes. The MACD Line has expanded positively above the zero level, while the RSI remains above 50. Price may trend higher, targeting the RM1.30-RM1.39 levels. Support will be located around the RM1.19 level.

KRETAM has advanced to re-test the EMA20 level on mildly improved volumes. The MACD Histogram has turned green, but the RSI is hovering below 50. Monitor for a breakout above the RM0.37 level, targeting the RM0.395-RM0.41 levels. Support will be pegged around the RM0.36 level.

Source: Mplus Research - 20 May 2020