Despite the FBM KLCI ended marginally higher yesterday, the key index remains below the 1,700 level. The MACD Histogram extended another red bar, in tandem with the MACD Line. The RSI has crossed below 50. Resistance will be located around 1,720-1,740. Support will be pegged around the 1,670 level.

IMASPRO has pulled back over the past three trading days with mild volumes. The MACD Indicator, however has expanded positively above zero. The RSI is located above 50. Monitor for a breakout above RM1.65, targeting the RM1.95-RM2.00 levels. Support will be set around the RM1.55 level.

SUPERMX has experienced an inverted head and shoulders formation breakout above the RM2.19 level with high volumes. The MACD Indicator has expanded positively above zero, but the RSI is overbought. Price target will be envisaged around RM3.00. Support will be anchored around RM1.99.

FFHB has experienced a breakout above the RM0.46 level with higher-than-average volumes. The MACD Indicator is trending higher above zero. The RSI, however is overbought. Price may rally towards the RM0.57 level after a short consolidation. Meanwhile, the support will be pegged around the RM0.42 level.

Source: M+ Online Research - 31 Jul 2015