Tracking the gains on the Dow overnight, the FBM KLCI traded marginally higher by 0.55 pts to 1,694.87 pts yesterday. The MACD Histogram has extended another red bar. However, the RSI is overbought. The FBM KLCI may be capped around the 1,700 level and could be due for a pullback towards the 1,680 level.

TAANN has trended sideways over the past two weeks near the EMA120 level. The MACD Line is trending above zero, but the RSI is overbought. Monitor for a breakout above the RM3.65 level, targeting the RM3.80 and RM4.00 levels. Support will be pegged around the RM3.58 level.

CCDMBIO has experienced a sideway consolidation breakout above the RM2.11 level with improved volumes. The MACD Indicator has expanded positively above zero. The RSI, however, is overbought. Price may rally towards the RM2.23 and RM2.34 levels after a short consolidation. Support will be anchored around the RM2.07 level.

GCB stayed above the RM0.945 level after the gap-up formation on Monday. The MACD Indicator continues to expand positively above zero, but the RSI is overbought. Price target will be envisaged around the RM1.07 and RM1.14 levels. Support will be set around RM0.945.

Source: M+ Online Research - 19 Aug 2016