The selling interest on the FBM KLCI resumed after a short-lived rebound above the 1,600 level on Thursday. The MACD Indicator continues to trend lower, but the RSI is oversold. The upside will be limited to around the 1,640 level. Meanwhile, the support will be located around the 1,580 level.

NCB ended above the EMA9 level with improved volumes. The MACD Line is hovering above zero, while the MACD Histogram extended another green bar. The RSI has surged above 50. Price target will be set around the RM4.29 and RM4.80 levels. Support will be located around the RM3.72 level.

COCOLND formed a hammer candle above the EMA20 level with improved volumes. The MACD Line is hovering above zero and the RSI is trending higher above 50. Monitor for a breakout above the RM2.65 level, targeting the RM2.85 and RM3.00 levels. Support will be located around the RM2.51 level.

SKPRES has trended sideways between the RM1.26-RM1.35 levels over the past five trading days. The MACD Histogram has extended another green bar, but the RSI is hovering below 50. Monitor for a breakout above the RM1.35 level, targeting the RM1.58 level. Support will be set around the RM1.26 level.

Source: M+ Online Research - 17 Aug 2015