FBMKLCI

The FBM KLCI declined as profit taking activities extended on the selected index heavyweight. The MACD Histogram has turned lower, while the RSI continues to stay below 50. The FBM KLCI may see negative momentum towards the support of the 1850-1,860 levels. Resistance will set around the 1,880-1,900 levels.

SOLID (5242)

SOLID continues to hover above the RM0.895 over the past three trading days following the breakout on 4th August. The MACD indicator has expanded positively above zero, while the RSI is above 50. Price may rally towards the RM0.97 and RM1.02 levels. Support will be pegged around the RM0.88 level.

EPMB (7773)

EPMB could have found support around the RM0.74 level with improved volumes. The MACD indicator is suggesting that the positive momentum is picking up. The RSI, however, is below the 50 level. Price may rally towards the price target of the RM0.785 and RM0.825 levels after a short consolidation.

ASTINO (7162)

ASTINO has experienced a breakout above the RM1.79 level with improved volumes. The MACD Histogram extended another green bar, while the RSI has crossed above 50. Price target will be envisaged around the RM1.86 and RM2.00 levels. Support will be located around the RM1.71 level.

Source: MalccaSecurities Research - 8 Aug 2014