FBMKLCI

The FBM KLCI rebounded marginally higher to 1,884.87 pts (+1.72 pts), but still remained below the uptrend line. The MACD Histogram extended another green bar, while the RSI is below 50. Resistance will be located around the 1,900-1,920 levels. Support will be pegged around the 1,862-1,870 levels.

L&G (3174)

L&G has experienced a trendline breakout above the RM0.56 level with improved volumes. The MACD indicator has issued a “Buy” signal, while the RSI has crossed above 50. Price target will be envisaged around the RM0.62 level. Support will be pegged around the RM0.545 level.

CHOOBEE (5797)

CHOOBEE has trended sideways below the RM2.00 level after it experienced a breakout above the RM1.95 level. The MACD Histogram has turned green, while the RSI is hovering firmly above 50. Monitor for a breakout above the RM2.00, targeting the RM2.25 and RM2.43 levels. Support will be pegged around the RM1.95 level.

MAYBULK (5077)

MAYBULK has surged above the RM1.85 level with strong volumes last week. The MACD Histogram has turned green, in tandem with the MACD Line. The RSI is hovering above 50. Price may rally towards the price target of the RM1.97 and RM2.19 levels. Support will be set around the RM1.76 level.

Source: MalaccaSecurities Research - 16 Jul 2014