The FBM KLCI trended lower after lingering mostly in the negative territory as the key index closed at around the 1,687.48 level yesterday. The MACD Histogram has extended another red bar, while the RSI is overbought. Resistances will be pegged around the 1,700-1,720 levels. Support will be set around the 1,670 level.

MFLOUR has experienced a resistance breakout above the RM0.725 level with high volumes. The MACD Indicator has issued a BUY Signal, while the RSI has risen above 50. Price may trend higher, targeting the RM0.78 and RM0.82 levels. Support will be located around the RM0.68 level.

TRC has experienced a trendline breakout above the RM0.65 level accompanied by rising volumes. The MACD Histogram has turned green, while the RSI has risen above 50. Price targets are envisaged at around the RM0.705-RM0.73 levels. Support will be anchored around the RM0.62 level.

IGBREIT has experienced a flag-formation breakout above the RM1.94 level. The MACD Indicator has issued a BUY Signal, while the RSI lingers marginally below the overbought level. Price may advance, targeting the RM2.00-RM2.10 levels. Support will be pegged around the RM1.90 level.

Source: Mplus Research - 5 Jul 2019