Tracking the negative performance on the overnight Dow and the softer crude oil price, the FBM KLCI ended lower to near the 1,660 level. The MACD Histogram has turned red. The RSI, however, is still hovering above 50. Resistance will be pegged around the 1,680 level. Support will be located around the 1,630 level.

EKOVEST has trended sideways over the past five trading days after the recent surge above the EMA9 level. The MACD Line is hovering above zero, while the RSI is holding above 50. Monitor for a breakout above the RM1.61 level, targeting the RM1.73 level. Support will be set around RM1.56.

ASTINO has formed a flag formation breakout above the RM0.75 level with high volumes. The MACD Indicator has expanded positively above zero, but the RSI is above 70. Price may rally towards the RM0.82-RM0.85 levels after a short consolidation. Support will be located around the RM0.725 level.

ANNJOO has experienced a flag breakout above the RM1.34 level with higher-than-average volumes. The MACD Histogram has turned green. The RSI, however, is overbought. Price target will be envisaged around the RM1.40-RM1.48 levels. Support will be anchored around the RM1.26 level.

Source: M+ Online Research - 27 Jul 2016