The FBM KLCI rebounded off the 1,600 psychological level, snapping the five consecutive days of losses. The MACD Indicator, however, is still trending lower. Nevertheless, the RSI is oversold. Resistance will be located around the 1,640 level. Support will be set around the 1,600 level.

IFCAMSC ended higher with higher-than average volumes. The MACD Histogram has extended another green bar, while the RSI is hovering below 30 (oversold). Monitor for a breakout above the RM0.81 level, targeting the RM0.90-RM1.00 levels. Support will be anchored around the RM0.735 level.

Follow-through buying interest was noted above the RM1.14 level with high volumes. The MACD Indicator has expanded positively above zero, while the RSI is trending higher above 50. Price target will be envisaged around the RM1.27 and RM1.41 levels. Support will be located around the RM1.05 level.

MIECO could be forming a two-bar potential rebound formation above the EMA120 level. The MACD Histogram has turned green, while the RSI is oversold. Monitor for a breakout above the RM0.805 level, price target will be pegged around the RM0.905 and RM1.00 levels. Support will be set around the RM0.72 level.

Source: M+ Online Research - 14 Aug 2015