FBMKLCI

The FBM KLCI continues to rebound higher towards the 1,850 level. The MACD Histogram has turned green, while the RSI is suggesting that the key index is oversold. The FBM KLCI may rebound higher towards the resistance of the 1,860-1,880 levels. Support will be set around the 1,838 level.

BIG (7005) – Weekly

BIG has experienced a breakout above the RM0.76 level accompanied by strong volumes. The weekly MACD indicator is trending higher, while the weekly RSI is hovering above 50. Price may rally towards the RM1.05 and RM1.42 levels after a short consolidation. Support will be envisaged around the RM0.67 level.

CAP (5229) – Weekly

CAP has trended sideways between the RM0.32-RM0.345 levels over the past three weeks. The MACD Line has crossed above the zero level. The weekly RSI is hovering above 50, suggesting that the momentum is positive. Price target will be envisaged around the RM0.39-RM0.42 levels. Support will be set around the RM0.32 level.  

MFLOUR (3662)

MFLOUR has consolidated sideways above the EMA60 level with improved volumes. The MACD Histogram has turned green, while the RSI has crossed above 50. Monitor for a breakout above the RM1.90 level, targeting the RM2.19 and RM2.46 levels. Support will be pegged around the RM1.82 level.

Source: Malacca Securities Research - 22 Sep 2014