FBMKLCI

The FBM KLCI has retreated after hitting the resistance of the 1,882 level. The MACD Histogram has turned red, while the RSI continues to drift lower below 30. The key index may violate the 1,870 level and pullback towards the support of the 1,850-1,860 levels. Resistance will be pegged around the 1,882-1,900 levels.

TMCLIFE (0101)

TMCLIFE has rebounded off the EMA9 level with improved volumes, forming a bullish candle. The MACD Histogram has turned green. The RSI, however, has crossed above 70; indicating an overbought position. Resistance will be envisaged around the RM0.47 and RM0.51 levels. Support will be set around the RM0.43 level.

RAYA (0080)

RAYA has experienced a sideways consolidation breakout above the RM0.21 level with improved volumes. The MACD indicator has issued a “Buy” signal, while the RSI has crossed above 50. Price may rally higher towards the RM0.265 and RM0.30 levels. Support will be located around the RM0.19 level.

MASTER (7029)

MASTER has experienced a flag formation breakout with improved volumes. The MACD indicator has expanded positively above zero, but the RSI is overbought. Price may rally towards the RM0.89 and RM1.00 levels after a short consolidation. Support will be pegged around the RM0.81 and RM0.705 levels.

Source: MalccaSecurities Research - 1 Aug 2014