The FBM KLCI trended lower and ended below the 1,700 psychological level and forming a fifth consecutive day of losses. The MACD Histogram has extended another red bar, while the RSI is hovering below 50. The FBM KLCI’s upside will be limited to around 1,740. Support will be located around 1,670.

BTM has experienced a resistance breakout above the RM0.30 level with higher-than-average volumes. The weekly MACD Histogram has turned green. The weekly RSI, however, is overbought. Price may rally towards the target of the RM0.36-RM0.42 levels after a short consolidation. Support will be set around the RM0.30 level.

GOPENG has been consolidating within a symmetrical triangle formation over the past seven months. The MACD Indicator has expanded positively above zero, but the RSI is overbought. Monitor for a breakout above the RM1.19 level with the price target envisaged around RM1.60. Support is set around the RM1.08 level.

PTB has experienced a short term breakout above the RM0.145 level with improved volumes. The weekly MACD Histogram has extended another green bar. The weekly RSI has crossed above 30. Price target will be pegged around the RM0.18-RM0.20 levels. Support will be anchored around the RM0.13 level.

Source: M+ Online Research - 29 Jul 2015