After a mild rebound towards the 1,660 level, selling pressure re-emerged and the FBM KLCI ended lower at 1,636.71 pts yesterday. The MACD Indicator has expanded negatively below zero. The RSI, however, is oversold. Resistance will be set around the 1,660 level. Support will be pegged around the 1,600 level.

LCTH rebounded off the EMA60 level with improved volumes and forming a harami candle. The MACD Line is hovering above zero, but the RSI is hovering below 50. Monitor for a breakout above RM0.605, targeting the RM0.655 and RM0.70 levels. Support will be set around the RM0.55 level.

LUXCHEM experienced a flag formation breakout above the RM1.11 level with high volumes. The MACD Histogram has turned green, while the RSI has rebounded off the 50 level. Price target will be envisaged around the RM1.19 and RM1.27 levels. Support will be pegged around the RM1.05 level.

RCECAP trended sideways with lower volumes after a strong gapped up candle three trading days ago. The MACD Indicator is trending higher, but the RSI is overbought. Monitor for a breakout above RM0.41, targeting the RM0.49 level. Support will be anchored around the RM0.39 level.

Source: M+ Online Research - 12 Aug 2015