The FBM KLCI gapped down and lingered in the negative territory before closing lower to around the 1,647.96 level last Friday. The MACD Histogram has turned red, while the RSI is oversold. Resistance will be pegged around the 1,660-1,670 levels. Support will be set around the 1,630 level.

AEON has rebounded to stay above the EMA9 level with mildly improved volumes The MACD Indicator has turned green, while the RSI is remains above 50. Monitor for a breakout above the RM1.83 level, targeting the RM1.93 and RM2.06 levels. Support will be set around the RM1.75 level.

RCECAP has gapped up to close above the EMA60 level with higher-than-average volumes. The MACD Indicator has issued a BUY Signal, while the RSI is re-testing 50. Monitor for a breakout above the RM1.63 level, targeting the RM1.69-RM1.72 levels. Support will be anchored around the RM1.57 level.

SCOMNET has extended its gains to close the EMA20 level with rising volumes. The MACD Indicator has issued a BUY Signal, while the RSI has risen above 50. Price may trend higher, targeting the RM0.835- RM0.89 levels. Support will be pegged around the RM0.715 level.

Source: Mplus Research - 29 Jul 2019