The FBM KLCI surged above the EMA20 level after a fourth consecutive day of gains. The MACD Indicator extended its upward movement, but the RSI is hovering below 50. The upsides on the FBM KLCI will be limited to around the 1,740 level. Support will be pegged around the 1,700 level.
JERASIA has retraced back towards the EMA9 and the buying support could have emerged as volumes have picked up. The MACD
Histogram, however, extended another red bar. The RSI is above 50. Monitor for a breakout above RM0.98, targeting the RM0.95 and RM1.15 levels. Support will be set around RM0.95.
SUNZEN surged above the EMA9 level with mild volumes after trading below the EMA20 level last week. The MACD Histogram has
turned green, but the RSI is trending below 50. Monitor for a breakout above RM0.49, targeting the RM0.54 and RM0.60 levels. Support will be set around the RM0.45 level.
UZMA trended sideways between the RM2.28 to RM2.60 levels over the past four months. The MACD Histogram has issued a “Buy”
signal, while the RSI is above 50. Monitor for a breakout above the RM2.60 level. Price target will be envisaged around the RM3.00-
RM3.25 levels. Support will be located around the RM2.28 level.
Source: M+ Online Research - 15 Jul 2015