FBMKLCI

The FBM KLCI has ended lower, forming a bearish engulfing bar yesterday. The MACD Line has turned lower, while the MACD Histogram has extended another red bar. Also, the RSI is trending lower. Resistance will be pegged around the 1,880-1,890 levels. Support will be set around the 1,850-1,860 levels.

CAB (7174)

CAB has rebounded after a two-day pullback with improved volumes. The MACD has issued a “Buy” signal, while the RSI is hovering above 50. If the price crosses above the RM0.945 level, the price target will be envisaged around the RM1.05 level. Support will be pegged around the RM0.90 level.

IOIPG (5249)

IOIPG has trended sideways after the trendline breakout above the RM2.45 level three weeks ago. The MACD Line is above zero, but the RSI is slightly overbought. Monitor for a breakout above the RM2.55 level, targeting the RM2.77 and RM3.00 levels. Support will be located around the RM2.45 level.

LBICAP (8494)

LBICAP has been supported along the EMA120 level over the past two weeks, accompanied by mild volumes. The MACD Line is trending higher, while the RSI is hovering above 50. Price may be targeting the RM1.65 and RM1.70 levels after it has breached above the RM1.53 level. Support will be located around the RM1.42 level.

Source: MalaccaSecurities Research - 12 Sep 2014