The FBM KLCI extended its gains in line with the positive performance across key regional peers as the key index closed at 1,762.93 level yesterday. The MACD Histogram has extended another red bar, while the RSI is overbought. Resistance will be pegged around the 1,780-1,790 levels. Support will be set around the 1,740 level.

CAB has formed a bullish candle to close above the EMA9 level accompanied by rising volumes. The MACD Histogram has turned green, while the RSI is hovering above 50. Monitor for a breakout above RM0.96, targeting the RM0.99 and RM1.02 levels. Support will be set around the RM0.91 level.

KERJAYA has gapped-up to close above the EMA60 level with improved volumes. The MACD Histogram has turned green, while the RSI has risen above 50. Monitor for a breakout above RM1.59, targeting the RM1.76-RM1.87 levels. Support will be anchored around the RM1.45 level.

MRCB has experienced a short-term consolidation breakout above the RM0.77 level with high volumes. The MACD Histogram has turned green, but the RSI is overbought. Price may advance, targeting the RM0.895-RM0.97 levels. Support will be pegged around the RM0.675 level.

Source: Mplus Research - 25 Jul 2018