The FBM KLCI lingered mostly in the negative territory before closing lower to around the 1,642.49 level on Monday. The MACD Histogram has extended another red bar, while the RSI remains oversold. Resistance will be pegged around the 1,660-1,670 levels. Support will be set around the 1,630 level.

UCREST has extended its gains above the EMA9 level accompanied by rising volumes. The MACD Indicator has extended another green bar, while the RSI remains above 50. Monitor for a breakout above the RM0.24 level, targeting the RM0.265 and RM0.28 levels. Support will be set around the RM0.22 level.

BSTEAD has formed a bullish engulfing candle to breakout above the RM1.14 level with high volumes. The MACD Histogram has extended another green bar, while the RSI is approaching 50. Price may advance, targeting the RM1.26-RM1.35 levels. Support will be anchored around the RM1.09 level.

SURIA has rebounded off the EMA20 level with improved volumes. The MACD Histogram has turned green. The RSI, however, is slightly overbought. Monitor for a breakout above the RM1.41 level, targeting the RM1.50-RM1.54 levels. Support will be pegged around the RM1.36 level.

Source: Mplus Research - 31 Jul 2019