The FBM KLCI gapped-down and subsequently erased all its previous two sessions’ gains as the key index closed at the 1,777.27 level yesterday. The MACD Histogram has extended another red bar, while the RSI remains above 50. Resistance will be pegged around the 1,800-1,820 levels. Support will be set around the 1,760 level.

HSL has gapped-up to breach above the RM1.44 resistance level with rising volumes. The MACD Histogram has extended another green bar, while the RSI remains above 50. Price may trend higher, targeting the RM1.59 and RM1.65 levels. Support will be set around the RM1.35 level.

ECONBHD has formed a short-term breakout-pullback-continuation pattern above the EMA9 level with improved volumes. The MACD histogram has turned green, while the RSI remains above 50. Monitor for a consolidation breakout above RM0.975, targeting the RM1.07-RM1.18 levels. Support will be pegged around the RM0.86 level.

SUNZEN has formed a bullish candle above the EMA20 level with high volumes. The MACD histogram has extended another red bar, while the RSI is approaching 50. Monitor for a breakout above RM0.23, targeting the RM0.26-RM0.28 levels. Support is set around the RM0.21 level.

Source: Mplus Research - 17 Aug 2018