FBMKLCI

The FBM KLCI has gained traction on the recent technical rebound and the key index is located near the 1,870 level. The MACD indicator has issued a “Buy” signal, but the RSI is hovering below 50. Resistance will be envisaged around the 1,880-1,890 level. Support will be set around the 1,850 level

PCCS (6068)

PCCS experienced a trendline breakout above the RM0.70 level with high volumes. The MACD indicator has flashed a “Buy” signal, while the RSI is approaching 70. Price may pullback towards the RM0.70 level over the near term. Price target will be located around the RM1.00 level. Support is pegged around the RM0.64 level.

JAKS (4723)

JAKS has been hovering sideways around the EMA60 level following a pullback from the RM0.85 level. The MACD indicator is improving, while the RSI has crossed above 30 – indicating that the momentum is picking up. Resistance will be pegged around the RM0.85 level. Support is located around the RM0.69 level.

FITTERS (9318)

FITTERS has experienced a sideways consolidation breakout above the RM1.18 level with improved volumes. The MACD Line has crossed above the Signal Line. The RSI, however, is overbought. Price may rally towards the RM1.30 and RM1.40 levels after a short consolidation. Support will be set around the RM1.13 level.

Source: MalaccaSecurities Research - 20 Aug 2014