The FBM KLCI snapped a four-day losing streak as the key index rebounded to close at around the 1,682.87 level yesterday. The MACD Histogram has extended another red bar, while the RSI is above 50. Resistances will be pegged around the 1,700-1,710 levels. Support will be set around the 1,660 level.

JAKS has experienced a flag-formation breakout above the RM0.81 level with improved volumes. The MACD Histogram has turned green, while the RSI remains above 50. Price may trend higher, targeting the RM0.90 and RM0.94 levels. Support will be located around the RM0.74 level.

KGB has formed a bullish engulfing candle to close above the EMA60 level with mildly improved volumes. The MACD Histogram has turned green, while the RSI remains above 50. Monitor for a consolidation breakout above the RM1.29 level, targeting the RM1.41-RM1.45 levels. Support will be pegged around the RM1.21 level.

D&O has formed a breakout-pullback-continuation pattern above the EMA20 level on high volumes. The MACD Histogram has turned green, while the RSI remains above 50. Price targets are envisaged at around the RM0.635-RM0.665 levels. Support will be pegged around the RM0.56 level.

Source: Mplus Research - 10 Jul 2019