Despite the positive performance on the Dow, the FBM KLCI plunged below the 1,660 level, and forming a bearish engulfing bar. The MACD Indicator expanded negatively below zero. The RSI, however, is oversold, suggesting that the FBM KLCI may perform a mild technical rebound towards the resistance of 1,660. Meanwhile, support will be pegged around 1,630.
MYCRON has experienced a strong consolidation breakout above the RM0.40 level with high volumes. The MACD Histogram extended another green bar. The RSI is hovering above 50. Price may rally towards the target of RM0.485 and RM0.53. Support will be anchored around the RM0.37 level.
LFECORP experienced a short term breakout above the RM0.285 level with mild volumes. The MACD Indicator has issued a “Buy” signal, while the RSI is hovering above the 50 level. Price may rally towards the resistance of the RM0.34 and RM0.39 levels. Meanwhile, support will be pegged around the RM0.27 level.
VIVOCOM trended positively above the EMA9 level with improved volumes and experienced a flag formation breakout above the RM0.33 level. The MACD Indicator has flashed a “Buy” signal, while the RSI is trending positively above 50. Price target will be envisaged around RM0.37 and RM0.395. Support will be pegged around RM0.315.
Source: M+ Online Research - 4 May 2016
http://klse.i3investor.com/blogs/MplusOnline/95885.jsp
