The FBM KLCI halted a three-day losing streak as the key index inched higher to close at around the 1,639.07 level yesterday. The MACD Histogram has turned green, but the RSI remains oversold. Resistance will be pegged around the 1,650-1,660 levels. Support will be set around the 1,630 level.

MYEG has formed a bullish engulfing candle to close above the EMA20 level. The MACD Histogram has extended another red bar, while the RSI remains above 50. Price may extend its gains, targeting the RM1.68 and RM1.75 levels. Support will be set around the RM1.53 level.

ELSOFT has advanced to close above the EMA20 level with improved volumes. The MACD Histogram has extended another red bar, while the RSI remains above 50. Monitor for a symmetrical triangle formation breakout above the RM0.955 level, targeting the RM1.01-RM1.08 levels. Support will be anchored around the RM0.91 level.

DUFU has rebounded off the EMA20 level on mild volumes. The MACD Histogram has extended another red bar, while the RSI is approaching 50. Monitor for a consolidation breakout above the RM1.93 level, targeting the RM2.08-RM2.22 levels. Support will be pegged around the RM1.81 level.

Source: Mplus Research - 2 Aug 2019