The intensified selling pressure from foreign funds sent FBM KLCI tumbling alongside its regional peers as the key index closed at its intraday low at around 1,715.36 pts yesterday. The MACD Indicator has issued a SELL Signal, while the RSI remains below 50. Resistance will be pegged around the 1,740-1,760 levels. Support will be located around the 1,700 level.

SCGM has experienced a breakout above the RM1.78 level accompanied by high volumes. The MACD Histogram has extended another green bar, but the RSI is slightly overbought. Price may stage a minor pullback, before targeting the RM2.05 and RM2.22 levels. Support will be set around the RM1.59 level.

D&O has extended its gains to remain above the EMA9 level with improved volumes. The MACD Line has expanded positively above the zero level, but the RSI is overbought. Monitor for a short-term consolidation breakout above RM0.735, targeting the RM0.775-RM0.80 levels. Support will be anchored around the RM0.70 level.

ELSOFT has experienced a symmetrical triangle breakout above the RM2.65 level with improved volumes. The MACD Histogram has extended another green bar, while the RSI has risen above 50. Price may trend higher, targeting the RM2.79-RM2.95 levels. Support will be pegged around the RM2.56 level.

Source: Mplus Research - 20 Jun 2018