The FBM KLCI snapped a steak of four winning days to close around 1,776.22 pts last Friday amid the negative sentiment on Wall Street overnight. The MACD Histogram has turned red, 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.

OCNCASH has formed a bullish engulfing candle to close above the EMA20 level accompanied by rising volumes. The MACD Histogram extended another green bar, while the RSI has risen above 50. Monitor for a breakout above the RM0.725 level, targeting the RM0.82-RM0.86 levels. Support will be anchored around the RM0.675 level.

SEDANIA experienced a breakout-pullback-continuation pattern above the EMA120 level with improved volumes. The MACD Histogram has turned green, while the RSI is re-testing 50. Price may trend higher, targeting the RM0.365 and RM0.38 levels after a mild consolidation. Support will be set around the RM0.31 level.

TRC has formed a bullish engulfing candle accompanied by improved volumes. The MACD Histogram has turned green, while the RSI is above 50. Monitor for a breakout above the RM0.77 level, targeting the RM0.805-RM0.85 levels. Support will be pegged around the RM0.725 level.

Source: Mplus Research - 21 Aug 2017