The FBM KLCI gapped-down and erased all its previous session’s gains as the key index closed at around the 1,626.76 level last Friday. The MACD Histogram has turned red, while the RSI remains oversold. Resistance will be pegged around the 1,640-1,650 levels. Support will be set around the 1,610 level.

POS has rebounded to close above the EMA20 level with mildly improved volumes. The MACD Histogram has turned green, but the RSI remains below 50. Monitor for a short-term trendline breakout above the RM1.77 level, targeting the RM1.88 and RM2.00 levels. Support will be set around the RM1.68 level.

IGBREIT has advanced to close above the EMA20 level with high volumes. The MACD Histogram has extended another green bar, while the RSI has risen above 50. Monitor for a breakout above the RM2.00 level, targeting the RM2.10-RM2.15 levels. Support will be anchored around the RM1.91 level.

AXREIT has formed a flag-formation breakout above the RM1.85 level with improved volumes. The MACD Indicator has issued a BUY Signal, but the RSI is slightly overbought. Price may trend higher, targeting the RM2.00-RM2.05 levels. Support will be pegged around the RM1.80 level.

Source: Mplus Research - 5 Aug 2019