FBMKLCI

The FBM KLCI traded towards another all-time-high of 1,892.65 pts yesterday on a cautious tone. The MACD indicator, however, is still positive. The RSI is hovering above 50. Resistance will be envisaged around the 1,900-1,920 levels. Support will be pegged around the 1,860-1,870 levels.

KARYON (0054)

KARYON has experienced a sideways consolidation breakout above the RM0.395 level with improved volumes. The MACD indicator has expanded positively above zero, while the RSI is rising above 50. Uptrend should resume towards the RM0.46 level, after a short consolidation. Support is set around the RM0.38 level.

PPG (7190)

PPG has rebounded off the EMA9 level with improved volumes. The MACD Histogram has turned green, while the RSI is trending higher towards the 50 level. If the price breaches the RM0.68 level, price target will be located around the RM0.76 level. Support will be pegged around the RM0.595 level.

CAB (7174) – Weekly

CAB has experienced a breakout above the RM0.60 level accompanied by high volumes. The weekly MACD Histogram has extended another green bar, but the weekly RSI is overbought. Price may surge towards the RM0.80 level after a mild consolidation. Support will be located around the RM0.45 level.

Source: MalaccaSecurities Research