FBMKLCI

The FBM KLCI declined on Friday with a negative tone permeating amid follow-through selling pressure after the bearish engulfing bar formed on Thursday. The MACD Indicator has issued a “Sell” signal. Support will be envisaged around the 1,838 level. Resistance will be set around the 1,880-1,896 levels.

SBCCORP (5207)

SBCCORP has ended higher above the immediate resistance of the RM2.15 level on mild volumes. The MACD Line is turning higher towards the zero level, while the RSI has hooked above 50. Price target will be pegged around the RM2.28 and RM2.47 levels. Support will be located around the RM2.06 level.

PESTECH (5219)

PESTECH has experienced a breakout above the RM4.04 level with improved volumes. The MACD Indicator has issued a “Buy” signal, while the RSI is trending higher above the 50 level. Price may rally towards the RM4.41 and RM4.86 levels. Support will be located around the RM3.94 level.

BHS (7241)

BHS has trended sideways over the past two trading days after it gapped-up last Wednesday with improved volumes. The MACD Line is flattish, but the RSI is slightly overbought. Monitor for a breakout above the RM3.00 level, targeting the RM3.30-RM3.50 levels. Support will be pegged around the RM2.86 level.

Source: MalaccaSecurities  Research - 15 Sep 2014