Bargain hunting activities have emerged on the FBM KLCI and the key index has rebounded off the 1,560 support level, forming a hammer candle yesterday. The MACD Histogram has turned green, while the RSI is oversold. Further rebound may be seen towards the 1,600 resistance level.

BPPLAS surged above the RM1.00 psychological level, forming a bullish engulfing bar with improved volumes. The MACD Indicator has expanded positively above zero, while the RSI is hovering above 50. Price target will be envisaged around the RM1.18 level. Support will be located around the RM0.95 level.

CAP has surged above the EMA9 level with improved volumes. The MACD Line is trending upwards, while the MACD Histogram has extended another green bar. The RSI, however, is hovering slightly below 50. Monitor for a breakout above RM0.29, targeting the RM0.32 and RM0.365 levels. Support will be set around RM0.27.

3A has trended sideways between the RM0.97-RM1.00 levels over the past three trading days. The MACD Histogram has extended another green bar and the RSI is oversold. Monitor for a breakout above the RM1.00 level, targeting the RM1.07 and RM1.15 levels. Support will be anchored around the RM0.97 level.

Source: M+ Online Research - 19 Aug 2015