FBMKLCI

The FBM KLCI continues to inch higher led by last minute buying support amongst selected index heavyweights. The MACD Line is below the zero level, while the RSI is hovering below 50. Resistance will be envisaged around the 1,890-1,900 levels. Support will be pegged around the 1,850-1,860 levels.

GREENYB (0136)

MPCORP has experienced a short term breakout above the RM0.15 level with improved volumes. The MACD Histogram has turned green, while the RSI has crossed above 50 – indicating that the momentum is picking up. Price target will be pegged around the RM0.345-RM0.395 levels. Support will be set around the RM0.27 level.

TNLOGIS (8397) – Weekly

TNLOGIS has rebounded off the weekly EMA20 level with improved volumes following an eight-month sideways consolidation. The weekly MACD Line is still above zero, while the weekly RSI has hooked above 30. Price may rally towards the RM1.50 and RM2.00 levels. Support will be set around the RM1.26 level.

MPCORP (6548)

MPCORP has surged above the RM0.49 level with high volumes. The MACD Line has been trending higher and crossed above zero, while the RSI has surpassed 50. Price may rally towards the price target of the RM0.53 and RM0.60 levels. Support will be located around the RM0.45 level.

Source: MalaccaSecurities Research - 30 Jul 2014