FBMKLCI

The FBM KLCI has rebounded off the 1,838 level on a last minute buying support among index heavyweights, forming a hammer candle. The MACD indicator, however, is still trending lower. Resistance will be envisaged around the 1,850-1,860 levels. Support will be set around the 1,838 level.

SASBADI (5252)

SASBADI has ended higher above the EMA9 level and well supported above the RM1.49 level. The MACD Line is above zero, but the RSI is slightly overbought. Monitor for a breakout above the RM1.57 level, targeting the RM1.75-RM1.89 levels. Support will be pegged around the RM1.49 level.

CYPARK (5184) – Weekly

CYPARK has formed a downward channel over the past six months. The weekly MACD Histogram, however, has turned green, while the weekly RSI is approaching 50. Monitor for a breakout above the RM2.75 level. Price target will be located around the RM3.05 and RM3.30 levels. Support will be set around the RM2.53 level.

GREENYB (0136)

GREENYB has formed a bullish engulfing bar, accompanied by high volumes following a one-day pullback. The MACD indicator has expanded positively above zero, but the RSI is slightly overbought. Price may rally towards the RM0.50 level after a mild Support will be pegged around the RM0.395 level.

Source: Malacca Securities Research - 19 Sep 2014