FBMKLCI

The FBM KLCI trended sideways in the negative zone before closing higher on a last minute buying support yesterday. The MACD Histogram has turned green, while the RSI is trending higher. The FBM KLCI may rebound higher to the resistance of the 1,882 level. Support will be set around the 1,850-1,860 levels.

MESB (7234)

MESB has rebounded off the EMA60 level and experienced a breakout above the RM1.21 level with improved volumes. The MACD Line and the MACD Histogram are improving, while the RSI has crossed above 50. Price target will be envisaged around the RM1.76 level. Support will be pegged around the RM1.12 level.

GUH (3247)

GUH has experienced a sideways consolidation breakout above the RM1.43 level with high volumes. The MACD Histogram has turned green, but the RSI is slightly overbought. Price may pullback mildly before rallying towards the price target of the RM1.64-RM1.77 levels. Support will be located around the RM1.35 level.

POHUAT (7088)

POHUAT has experienced a trendline breakout above the RM1.36 level with improved volumes. The MACD indicator has issued a “Buy” signal above zero. The RSI, however, has crossed above 70. Monitor for a breakout above the RM1.38 level, targeting the RM1.66 level. Support will be envisaged around the RM1.27 level.

Source: MalaccaSecurities Research - 6 Aug 2014