Despite trimming most of its intraday gains, the FBM KLCI advanced for the fourth straight session as the key index closed at the 1,805.75 level last Friday. The MACD Histogram has extended another red bar, while the RSI remains overbought. Resistance will be pegged around the 1,820-1,830 levels. Support will be set around the 1,790 level.

MAXIS has formed a bullish engulfing candle to close above the EMA9 level. The MACD Histogram has turned green, while the RSI remains above 50. Monitor for a breakout above RM5.79, targeting the RM6.11 and RM6.38 levels. Support will be set around the RM5.57 level.

PRLEXUS has experienced a trendline breakout above the RM0.66 level accompanied by improved volumes. The MACD Histogram has turned green, but the RSI remains below 50. Price may stage further recovery, targeting the RM0.72-RM0.75 levels. Support will be anchored around the RM0.635 level.

LUXCHEM has gapped-up to rebound off the EMA120 level with improved volumes. The MACD Indicator has issued a BUY Signal, while the RSI remains above 50. Monitor for a trendline breakout above RM0.68, targeting the RM0.715-RM0.775 levels. Support will be pegged around the RM0.65 level.

Source: Mplus Research - 13 Aug 2018