Despite the positive sentiment on Wall Street overnight, the FBM KLCI extended its losses to close at 1,780.71 yesterday – the lowest level over the past two weeks. The MACD Line has issued a SELL signal, while the RSI continues to trend above 50. Resistance will be pegged around the 1,800-1,820 levels. Support will be set around the 1,760 level.

SILKHLD has formed a breakout-pullback-continuation formation above the RM0.49 level. The MACD Histogram has turned green, while the RSI is above 50. Price target will be envisaged around the RM0.555-RM0.60 target levels. Support will be pegged around the RM0.46 level.

After finding support along the RM0.84 level, CCK has experienced a trendline breakout above the RM0.88 level with improved volumes. The MACD Histogram has turned green, while the RSI is approaching 50. Price could rally, targeting the RM0.955 and RM1.01 levels. Support will be anchored around the RM0.84 level.

LFECORP has experienced a flag-formation breakout with improved volumes. The MACD Histogram has turned green, while the RSI is above 50. Monitor for the horizontal resistance breakout above the RM0.30 level, targeting the RM0.34 and RM0.38 levels. Support will be set around the RM0.27 level.

Source: Mplus Research - 21 Jun 2017