FBMKLCI

The FBM KLCI dived 1.5% on Friday as selling activities emerged after the U.S. authorised air strikes on Iraq. The MACD and RSI
indicators are trending lower. The FBM KLCI may continue to extend further downside towards the support of the 1,820 level. Resistance will be envisaged around the 1,870-1,880 levels.

PADINI (7052) – Weekly

PADINI is hovering sideways below the RM2.00 level with declining volumes. The weekly MACD Histogram has turned green, while the weekly RSI is hovering near 50. Monitor for a breakout above the RM2.00 level; price target will be envisaged around the RM2.44 level. Support will be set around the RM1.85 level.

GDEX (0078)

GDEX has rebounded off the EMA60 level with improved volumes. The MACD Histogram continues to strengthen last week. The RSI has crossed above the 30 level. Price may rebound higher towards the targets of the RM2.25 and RM2.40 levels. Support will be pegged around the RM2.00-RM2.04 levels.

TAKASO (7071)

TAKASO has experienced a flag formation breakout above the RM0.27 level with improved volumes. The weekly MACD Histogram has turned green, but the weekly RSI is overbought. Price may rally towards the price target of the RM0.32 and RM0.405 levels after a mild consolidation. Support will be located around the RM0.25 level.

Source: MalaccaSecurities Research - 11 Aug 2014