The FBM KLCI gapped-up to hit an intra-day high of 1,660.22 pts, but selling pressure emerged and the key index reversed to end lower at 1,609.21 pts (-3.53 pts). The MACD Histogram, however, extended another green bar. Resistance will be set around the 1,670 level. Support will be located around 1,580.

CARING has experienced a resistance breakout above the RM1.23 level with high volumes. The MACD Indicator has issued a “Buy” signal, but the RSI is slightly overbought. Price may rally towards the RM1.42-RM1.52 levels after a short consolidation. Support will be pegged around the RM1.04 level.

MAGNI has experienced a short term consolidation breakout above the RM4.10 level with mild volumes. The MACD Indicator has flashed a “Buy” signal, while the RSI has crossed above 50. Price target will be envisaged around the RM4.57 and RM5.00 levels. Support will be anchored around the RM3.77 level.

JAKS has rebounded off the EMA120 level and ended above the EMA60 level. The MACD Indicator is recovering below the zero level. The RSI trended higher above 30. Monitor for a breakout above the RM0.835, targeting the RM0.925 and RM1.00 levels. Support will be set around the RM0.785 level.

Source: M+ Online Research - 2 Sep 2015