The FBM KLCI marked its fifth straight session of gains as the key index surpassed the 1,500 psychological level to close at 1,507.69 level yesterday. The MACD Histogram has extended another green bar, but the RSI is overbought. Resistance will be pegged around the 1,510-1,530 levels. Support will be set around the 1,460 level.

FPGROUP has formed a flag-formation breakout above the RM0.795 level on improved volumes. The MACD Histogram has turned green, while the RSI remains above 50. Price may advance, targeting the RM0.89-RM0.925 levels. Support will be anchored around the RM0.745 level.

PWRWELL has formed a bullish engulfing candle to close above the EMA9 level on mildly improved volumes. The MACD Histogram has turned green, while the RSI has risen above 50. Price may trend higher, targeting the RM0.31-RM0.35 levels. Support will be located around the RM0.275 level.

RGB has formed a bullish candle to close above the EMA60 level on high volumes. The MACD Line has risen above the zero level, while the RSI remains above 50. Monitor for a breakout above the RM0.145 consolidation level, targeting the RM0.17-RM0.185 levels. Support will be pegged around the RM0.135 level.

Source: Mplus Research - 3 Jun 2020