The FBM KLCI remained under pressure as the key index traded in the negative territory the entire trading session before closing at the intraday low of around the 1,766.96 pts last Friday. The MACD Histogram has extended another red bar, while the RSI has tripped below the overbought level. Resistance will be pegged around the 1,780-1,800 levels. Support will be set around the 1,750 level.

The uptrend intact formation was established in IGBREIT as its price rebounded off the EMA20 level. The MACD Histogram has extended another red bar, while the RSI is above 50. Monitor for a breakout above the RM1.75 level, targeting the RM1.79-RM1.85 levels. Support will be anchored around the RM1.71 level.

GBGAQRS continues to be supported above the EMA9 level accompanied by minor improvement volumes. The MACD Indicator has expanded positively above the zero level, but the RSI is overbought. Monitor for a breakout above the RM1.61 level, targeting the RM1.76 and RM1.82 levels. Support will be set around the RM1.54 level.

MQREIT has experienced a breakout above the RM1.31 level. The MACD Histogram has turned green, while the RSI is above 50. Price may rally, targeting the RM1.39-RM1.47 levels. Support will be pegged around the RM1.26 level.

Source: Mplus Research - 14 Aug 2017