Tracking the positive developments on Wall Street overnight, the FBM KLCI marched higher for the sixth straight session as the key index closed at around the 1,781.65 pts. The MACD Histogram has extended another green bar, but the RSI is overbought. Resistance will be pegged around the 1,800-1,820 levels. Support will be set around the 1,770 level.

YINSON has rebounded off the EMA20 level with improved volumes. The MACD Histogram has turned green, but the RSI has tripped below 50. Monitor for a breakout above the short-term consolidation of the RM3.60 level, targeting the RM3.70-RM3.80 levels. Support will be anchored around the RM3.52 level.

After a recovery from the double bottom formation, BAUTO has closed above the EMA20 level. The MACD Histogram has turned green, while the RSI is re-testing 50. Monitor for a trendline breakout above the RM1.96 level, targeting the RM2.11 and RM2.20 levels. Support will be set around the RM1.88 level.

KSL has formed a hammer candle to close above the EMA20 level with mildly improved volumes. The MACD Histogram has extended another green bar, while the RSI is re-testing 50. Price may rally, targeting the RM1.27-RM1.33 levels. Support will be pegged around the RM1.20 level.

Source: Mplus Research - 9 Aug 2017