The weakness on Wall Street overnight permeated to the FBM KLCI as the key index finished 0.4% lower to close at 1,771.36 pts last Friday. The MACD Histogram has extended another red bar, while the RSI has slipped into the oversold position. Resistance will be pegged around the 1,780-1,800 levels. Support will be set around the 1,750 level.

MAHSING has experienced a consolidation breakout above the RM1.59 level accompanied by improved volumes. The MACD Line has issued a BUY Signal, but the RSI is overbought. Price target will be envisaged around the RM1.70-RM1.78 levels. Support will be pegged around the RM1.51 level.

CANONE has gapped-up and subsequently risen above the EMA120 level with improved volumes. The MACD Line has issued a BUY Signal, while the RSI remains above 50. Price could rally, targeting the RM3.53 and RM3.77 levels. Support will be anchored around the RM3.29 level.

3A has formed a bullish engulfing candle and subsequently re-tested the RM1.32 level with improved volumes. The MACD Line has issued a BUY Signal, while the RSI has hooked up above 50. Monitor for a breakout above the RM1.32 consolidation level, targeting the RM1.40-RM1.47 target levels. Support will be set around the RM1.27 level.

Source: Mplus Research - 3 Jul 2017