The FBM KLCI formed a bearish engulfing candle, reversing all its previous two session’s gains as the key index closed at an intraday day low around the 1,663.86 level last Friday. The MACD Histogram has turned red, while the RSI remains oversold. Resistance will be pegged around the 1,680-1,700 levels. Support will be set around the 1,650 level.

YONGTAI has experienced a flag-formation breakout above the RM1.47 level with improved volumes. The MACD Histogram has turned green, while the RSI remains below 50. Price may trend higher, targeting the RM1.52 and RM1.59 levels. Support will be set around the RM1.44 level.

SUNREIT has formed a bullish engulfing candle to close above the EMA9 level with slightly improved volumes. The MACD Indicator has issued a BUY Signal, while the RSI has risen above 50. Price may trend higher, targeting the RM1.80-RM1.90 levels. Supp

SERBADK has formed a bullish candle to rebound off the EMA9 level. The MACD Histogram has turned green, while the RSI remains above 50. Monitor for a potential flag-formation breakout above RM3.40, targeting the RM3.59-RM3.68 levels. Support will be pegged around the RM3.31 level.

Source: Mplus Research - 9 Jul 2018