The FBM KLCI extended its consolidation phase near the 1,680 support level. The MACD Indicator has issued a “Sell” signal, but the RSI is hovering above 50. The FBM KLCI may pullback further towards the 1,660 level over the near term. Meanwhile, the resistance will be pegged around the 1,700 level.

CAB has experienced a consolidation breakout above the RM1.72 level with higher-than-average volumes. The MACD Histogram has turned green. The RSI, however ,is overbought. Price target will be pegged around the RM1.87 and RM2.00 levels. Support will be set around the RM1.70 level.

PRESBHD has trended sideways over the past five trading days above the EMA20 level. The MACD Line, however, is slightly below the Signal Line. Nevertheless, the RSI is trending higher above 50. Monitor for a breakout above the RM2.15 level, targeting the RM2.40-RM2.46 levels. Support will be located around the RM2.08 level.

SALCON has rebounded off the EMA9 level with improved volumes. The MACD Histogram has extended another green bar, but the RSI is below 50. Price target will be envisaged around the RM0.66-RM0.68 levels. Support will be set around the RM0.615 level.

Source: M+ Online Research - 26 Aug 2016