Following the positive trade developments between the U.S and Eurozone, the FBM KLCI advanced for the fourth consecutive day as the key index closed at 1,766.23 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.

BAUTO has formed a bullish harami candle to close above the EMA120 level. The MACD Histogram has turned green, while the RSI has risen above above 50. Monitor for a symmetrical triangle formation breakout above RM2.25, targeting the RM2.35 and RM2.46 levels. Support will be set around the RM2.17 level.

BOILERM has experienced a short-term consolidation breakout above the RM0.70 level with improved volumes. The MACD Histogram has turned green, while the RSI remains above 50. Price may trend higher, targeting the RM0.765-RM0.80 levels. Support will be anchored around the RM0.67 level.

CCK has rebounded to close above the EMA20 level. The MACD Histogram has extended another green bar, while the RSI is approaching 50. Monitor for a breakout above RM0.895, targeting the RM0.965- RM1.01 levels. Support will be pegged around the RM0.825 level.

Source: Mplus Research - 27 Jul 2018