FBMKLCI

The FBM KLCI has rebounded off the 1,870 level on a last minute buying interest. The MACD Histogram has turned green over the past two trading days. The RSI, however, is hovering below 50. The support will be pegged around the 1,850-1,860 levels. Resistance will be set around the 1,890-1,900 level.

PASDEC (5912)

PASDEC has experienced a consolidation breakout above the RM0.80 level with high volumes. The MACD Histogram has turned green, while the RSI is hovering above 50. As the momentum is picking up, price may rally towards the RM0.915-RM1.00 levels. Support will be pegged around the RM0.78 level.

GPHAROS (5649)

GPHAROS has rebounded off the EMA20 level with improved volumes and experienced a breakout above the RM0.89 level. The MACD indicator is trending higher, while the RSI has crossed above 50. Price is likely to rally towards the RM1.00-RM1.10 levels. Support will be set around the RM0.855 level.

MASTER (7029)

MASTER has noted a short term breakout above the RM0.80 level. The MACD indicator has issued a “Buy” signal, while the RSI has hooked above 50. If the price could surge above the symmetrical triangle, price target will be envisaged around the RM1.00 level. Support will be located around the RM0.75 level.

Source: MalaccaSecurities Research - 25 Jul 2014