The FBM KLCI ended on a relatively flat note as the key index closed around the 1,771.90 pts yesterday after enduring a choppy trading session. The MACD Histogram has extended another green bar, but the RSI is slightly overbought. Resistance will be pegged around the 1,780-1,800 levels. Support will be set around the 1,750 level.

PWF has formed a bullish engulfing candle and subsequently closed above the EMA20 level with mild volumes. The MACD Histogram has turned green, while the RSI has risen above 50. Monitor for a breakout above the RM1.06 level, targeting the RM1.17-RM1.20 levels. Support will be anchored around the RM1.00 level.

JAYCORP has experienced a flag-formation breakout above the RM1.46 level accompanied by improved volumes. The MACD Histogram has turned green, but the RSI is above 50. Price target will be envisaged around the RM1.55 and RM1.62 levels. Support will be set around the RM1.40 level.

REXIT has experienced a symmetrical triangle formation breakout above the RM0.88 level with high volumes. The MACD Indicator has issued a BUY signal, while the RSI is above 50. Price may rally, targeting the RM0.945-RM1.00 levels after a mild pullback. Support will be pegged around the RM0.835 level.

Source: Mplus Research - 4 Aug 2017