The FBM KLCI extended its gains to finish above the EMA120 level for the first time since January 2020 as the key index closed at around the 1,457.50 level yesterday. The MACD Histogram has turned red, while the RSI is overbought. Resistance will be pegged around the 1,460-1,480 levels. Support will be set around the 1,430 level.

SCGM has rebounded off the EMA9 level to breakout above the RM1.84 resistance level on improved volumes. The MACD Histogram has turned green, but the RSI is overbought. Price may advance towards RM2.05-RM2.17 levels. Support is anchored around the RM1.66 level.

NOTION has formed a breakout-pullback-continuation pattern above the EMA20 level on improved volumes. The MACD Histogram has extended another green bar, while the RSI remains below 50. Price targets are envisaged at around the RM0.86-RM0.915 levels. Support will be located around the RM0.705 level.

CMSB has formed a short-term pennant formation breakout to close above the RM1.54 level on rising volumes. The MACD Histogram has turned green, but the RSI is overbought. Price may trend higher, targeting the RM1.70-RM1.88 levels. Support will be pegged around the RM1.42 level.

Source: Mplus Research - 29 May 2020