FBMKLCI

The FBM KLCI has ended below the trendline, forming a bearish engulfing candle. The MACD Indicator is flashing a “Sell” signal, while the RSI has crossed below 50. The key index may pullback lower towards the support of the 1,862-1,870 levels. Resistance will be envisaged around the 1,900-1,920 levels.

PRESTAR (9873)

PRESTAR has rebounded off the near term support of the RM0.645 level with higher volumes. The MACD Histogram has turned green. The RSI, however, is slightly overbought. Monitor for a breakout above the RM0.68 level after a short consolidation. Further support will be pegged around the RM0.56 level.

REDTONE (0032)

REDTONE has gapped-up above the RM0.73 level, which is the upper band of the short term consolidation zone with improved volumes. The MACD indicator has issued a “Buy” signal. The RSI is trending higher. Price could rally towards the target of the RM0.78-RM0.84 levels. Support will be set around the RM0.675-RM0.71 levels.

SNTORIA (5213)

SNTORIA has been trending sideways over the past two months between the RM0.87-RM0.905 levels. The MACD indicator is rising, while the RSI has hooked above 50. Monitor for a breakout above the RM0.905 level, targeting the RM1.00 level. Support will be located around the RM0.87 level.

Source: MalccaSecurities Research - 14 Jul 2014