Late gains in selected index heavyweights nudged the FBM KLCI into the positive territory as the key index closed marginally higher to around the 1,679.26 level yesterday. The MACD Histogram, however, has extended another red bar, while the RSI has tripped below 50. Resistance will be pegged around the 1,700- 1,710 levels. Support will be set around the 1,660 level.

CARIMIN has experienced a flag-formation breakout above the RM0.91 level with improved volumes. The MACD Histogram has turned green, while the RSI remains above 50. Price targets will be envisaged around the RM1.01 and RM1.07 levels. Support will be located around the RM0.86 level.

EATECH has formed a bullish candle to close above the EMA120 level on high volumes. The MACD Histogram has turned green. The RSI, however, has hit overbought. Monitor for a breakout above the RM0.46 level, targeting the RM0.495-RM0.525 levels. Support will be anchored around the RM0.425 level.

HUAYANG has gapped-up to close above the EMA9 level on high volumes. The MACD Histogram has turned green, while the RSI has risen above 50. Monitor for a breakout above the RM0.45 level, targeting the RM0.50-RM0.54 levels. Support will be pegged around the RM0.395 level.

Source: Mplus Research - 12 Jul 2019