The FBM KLCI bucked the mostly negative performance among its regional peers as the key index halted a five-day losing streak, closing at the 1,798.57 level yesterday. The MACD Histogram has extended another red bar, while the RSI remains above 50. Resistance will be pegged around the 1,820-1,840 levels. Support will be set around the 1,780 level.

YTLREIT has formed a bullish engulfing candle to rebound off the EMA60 level. The MACD Histogram has turned green, while the RSI has risen above 50. Monitor for a potential flag-formation breakout above RM1.23, targeting the RM1.28 and RM1.33 levels. Support will be set around the RM1.19 level.

SIME has extended its gains to breach above the RM2.67 level. The MACD Indicator has issued a BUY Signal, but the RSI is overbought. Price may stage a mild pullback, before targeting the RM2.93 and RM3.06 levels. Support will be set around the RM2.50 level.

WEGMANS has rebounded and found some support above the EMA20 level. The MACD Histogram has extended another red bar, while the RSI remains below 50. Monitor for a breakout above RM0.36, targeting the RM0.385-RM0.40 levels. Support is set around the RM0.34 level.

Source: Mplus Research - 7 Sept 2018