The FBM KLCI traded higher towards the 1,700 level as buying support was noted on most of the index heavyweights. The MACD Indicator expanded positively above zero, while the RSI is positive above 50. The FBM KLCI may be due for profit taking activities towards the support of 1,680.

IFCAMSC trended sideways after a strong breakout above the EMA9 in early July. The MACD Line is hovering above zero. The RSI, however, is trending below 50. Monitor for a breakout above the RM0.545 level, targeting the RM0.60-RM0.66 levels. Support will be pegged around the RM0.52 level.

JAKS experienced a flag formation breakout above the RM1.02 level with high volumes. The MACD Line is trending positively above zero, but the RSI is slightly overbought. Price target will be pegged around the RM1.11 and RM1.17 levels. Support will be anchored around the RM0.995 level.

LANDMRK trended sideways around the EMA60 level over the past five days. The MACD Line has crossed above zero, while the RSI is hovering above 50. Monitor for a breakout above RM0.82, targeting the RM0.90 and RM0.95 levels. Support will be located around the RM0.80 level.

Source: M+ Online Research - 17 Aug 2016