FBMKLCI

The FBM KLCI has taken a breather following a two-day surge. Despite the MACD Line remaining below zero, it has trended higher over the past two weeks. The RSI has crossed above the 50 level. Resistance will be set around the 1,880-1,890 levels. Support will be located around the 1,850-1,860 levels.

PANPAGE (0041)

PANPAGE has formed a bullish engulfing bar with improved volumes after it rebounded off the RM0.35 level. The MACD Histogram has turned green, while the RSI has crossed above 30. Price is likely to trade higher towards the RM0.39 and RM0.47 levels. Support will be located around the RM0.33 level.

ENGTEX (5056)

ENGTEX has experienced a breakout above the RM1.89 level with improved volumes. The MACD indicator has issued a “Buy” signal, while the RSI has hooked above 50. Price may rally towards the RM2.00 and RM2.13 levels. Support will be envisaged around the RM1.81 level.

CHHB (5738)

CHHB traded above the EMA9 following a breakout of the RM1.56 level with improved volumes. The MACD indicator has expanded positively above the zero level, but the RSI is slightly overbought. Monitor for a breakout above the RM1.63 level, targeting the RM1.75 level. Support will be set around the RM1.52-RM1.56 levels.

Source: MalaccaSecurites Research - 22 Aug 2014