The FBM KLCI rebounded strongly above the 1,700 level on Friday and ended above the EMA20 level. The MACD Histogram has turned green and the RSI has hooked above 50. The key index could be retesting the resistance of the 1,740 level. Meanwhile, the support will be set around the 1,700 level.

TAKASO experienced a flag formation breakout above the RM0.53 level with high volumes. The MACD indicator expanded positively above zero, while the RSI is overbought. Price may rally towards the RM0.70 level after a short consolidation. Support will be located around the RM0.50 level.

RUBEREX rebounded off the RM0.74 level, forming a Breakout-Pullback-Continuation pattern. The MACD Histogram has turned green, while the RSI is trending higher above 50. Price target will be envisaged around RM0.875, followed by the RM0.98 level. Support will be anchored around the RM0.74 level.

CAELY rebounded off the RM0.54 level and ended above the EMA9 level. The MACD Line is hovering above zero, but the MACD Histogram extended another red bar. The RSI is hovering above 50. Price target will be envisaged around the RM0.585 and RM0.66 levels. Support will be set around the RM0.54 level.

Source: M+ Online Research - 3 Aug 2015