Tracking the positive sentiment on Wall Street overnight, coupled with the firmer Ringgit against the Greenback, the FBM KLCI extended its gains to close at an intraday high around the 1,687.13 level yesterday. The MACD Histogram has extended another green bar, while the RSI remains below 50. Resistance will be pegged around the 1,700-1,710 levels. Support will be set around the 1,670 level.

JHM has gapped up to close above the EMA20 level with slightly improved volumes. The MACD Histogram has turned green, while the RSI has risen above 50. Monitor for a symmetrical triangle formation breakout above RM1.03, targeting the RM1.11 and RM1.17 levels. Support will be set around the RM0.95 level.

ASTRO has advanced to close above the EMA60 level with high volumes. The MACD Line has risen above the zero level, while the RSI remains above 50. Price may trend higher, targeting the RM1.85-RM1.95 levels. Support will be anchored around the RM1.57 level.

SKPRES has gapped-up to close above the EMA20 level accompanied by improved volumes. The MACD Indicator has issued a BUY Signal, while the RSI has risen above 50. Price may advance, targeting the RM1.63-RM1.75 levels. Support will be pegged around the RM1.34 level.

Source: Mplus Research - 11 Jul 2018