Tracking the weakness on Wall Street overnight, the FBM KLCI retreated for the first time in nine days as the key index closed at the 1,778.13 level yesterday. The MACD Histogram has extended another red bar, while the RSI remains overbought. Resistance will be pegged around the 1,800-1,820 levels. Support will be set around the 1,760 level.

ESCERAM has rebounded to close above the EMA120 level with rising volumes. The MACD Histogram has turned green, while the RSI remains above 50. Monitor for a breakout above RM0.24, targeting the RM0.27 and RM0.31 levels. Support will be set around the RM0.21 level

LKL has gapped-up to close above the EMA60 level with high volumes. The MACD Histogram has turned green, while the RSI remains above 50. Monitor for a breakout above RM0.15, targeting the RM0.175- RM0.185 levels. Support will be anchored around the RM0.135 level.

NIHSIN has advanced to close above the EM120 level with improved volumes. The MACD Histogram has turned green, but the RSI is overbought. Monitor for a breakout above RM0.19, targeting the RM0.22- RM0.235 levels. Support will be pegged around the RM0.175 level.

Source: Mplus Research - 3 Aug 2018