Amid the lack of fresh buying impetus, the FBM KLCI continues to trade in a lackluster manner as the key index ended marginally lower to close around the 1754.92 pts yesterday. The MACD Histogram has extended another green bar, but the RSI remains below 50. Resistance will be pegged around the 1,770- 1,780 levels. Support will be set around the 1,750 level.

SEACERA continues to be supported along the EMA20 level with improved volumes. The MACD Histogram has turned green, while the RSI remains above 50. Monitor for a symmetrical triangle formation breakout above the RM1.45 level, targeting the RM1.54-RM1.67 levels. Support will be set around the RM1.37 level.

CENTURY has formed a bullish engulfing candle to close above the EMA60 level accompanied by improved volumes. The MACD Histogram has turned green, while the RSI has recovered from the oversold position. Price may rally towards the RM1.44-RM1.50 levels. Support will be anchored around the RM1.21 level.

After finding support above the EMA60 level, LSTEEL has rebounded to close above the EMA20 level. The MACD Histogram has extended another green bar, while the RSI has risen above 50. Monitor for a short-term consolidation breakout above the RM0.58 level, targeting the RM0.63-RM0.665 levels. Support will be set around the RM0.54 level.

Source: Mplus Research - 19 Jul 2017