The FBM KLCI recovered all of its previous session’s losses to remain in the consolidation band as the key index closed higher to around the 1,656.58 level yesterday. The MACD Histogram has extended another green bar, while the RSI has recovered from oversold. Resistance will be pegged around the 1,670-1,680 levels. Support will be set around the 1,640 level.

CRESBLD has rebounded to close above the EMA20 with improved volumes. The MACD Histogram has extended another green bar, but the RSI remains oversold. Monitor for a breakout above the RM1.08 level, targeting the RM1.14 and RM1.27 levels. Support will be located around the RM1.03 level.

KPOWER has advanced to close above the EMA20 level with mildly improved volumes. The MACD Histogram has extended another green bar, while the RSI has risen above 50. Price may trend higher, targeting the RM0.885-RM0.98 levels. Support will be anchored around the RM0.73 level.

MYNEWS has rebounded off the EMA60 level with improved volumes. The MACD Histogram has turned green, but the RSI remains below 50. Monitor for a short-term trendline breakout above the RM1.44 level, targeting the RM1.49-RM1.53 levels. Support will be pegged around the RM1.40 level.

Source: Mplus Research - 26 Jul 2019