The FBM KLCI gapped up to close higher for the seventh straight session as the key index closed at 1,452.11 level yesterday. The MACD Histogram has extended another green bar, but the RSI is overbought. Resistance will be pegged around the 1,460-1,480 levels. Support will be set around the 1,430 level.

UNISEM has experienced a symmetrical triangle formation breakout above the RM2.02 level on mildly improved volumes. The MACD Histogram has turned green, while the RSI is lingering below the overbought level. Price targets are envisaged around the RM2.16-RM2.25 levels. Support will be anchored around the RM1.95 level.

POS has formed a flag-formation breakout above the RM1.06 level on improved volumes. The MACD Line has expanded positively above the zero level, but the RSI is overbought. Price may trend higher, targeting the RM1.17-RM1.24 levels. Support will be located around the RM0.99 level.

CIMB has experienced a short-term consolidation breakout above the RM3.52 level on mild volumes. The MACD Histogram has extended another green bar, while the RSI has risen above 50. Price may advance, targeting the RM3.65-RM3.83 levels. Support will be pegged around the RM3.37 level.

Source: Mplus Research - 22 May 2020