After enduring a choppy trading session, the FBM KLCI managed to eke-out marginal gains to close around the 1,772.39 pts yesterday. The MACD Histogram has extended another red bar, while the RSI is above 50. Resistance will be pegged around the 1,780-1,800 levels. Support will be set around the 1,750 level.

SUPERLN has formed a breakout-pullback-continuation pattern above the EMA20 level with improved volumes. The MACD Histogram has turned green, but the RSI is overbought. Monitor for a breakout above the RM2.65 level, targeting the RM2.80-RM3.00 levels. Support will be anchored around the RM2.42 level.

MLGLOBAL has rebounded off the EMA20 level accompanied by improved volumes. The MACD Histogram has turned green, while the RSI is approaching 50. Monitor for a symmetrical triangle formation breakout above the RM1.26 level, targeting the RM1.34 and RM1.40 levels. Support will be set around the RM1.20 level.

PWF has formed a breakout-pullback-continuation pattern above the EMA60 level. The MACD Indicator has issued a BUY signal, while the RSI is above 50. Price may rally, targeting the RM1.14-RM1.17 levels. Support will be pegged around the RM1.01 level.

Source: Mplus Research - 16 Aug 2017