The FBM KLCI recovered all its intraday losses as the key index closed higher to around the 1,611.79 level yesterday. The MACD Histogram has extended another red bar, while the RSI remains oversold. Resistance will be pegged around the 1,630-1,640 levels. Support will be set around the 1,600 level.

KERJAYA has formed a bullish engulfing candle to rebound off the EMA60 level on high volumes. The MACD Histogram has turned green, but the RSI remains below 50. Price may trend higher, targeting the RM1.55 and RM1.59 levels. Support will be set around the RM1.36 level.

PENTA has experienced a flag-formation breakout above the RM3.44 level with improved volumes. The MACD Histogram has turned green, while the RSI remains above 50. Price targets are envisaged at around the RM3.75-RM4.00 levels. Support will be anchored around the RM3.22 level.

DSONIC has formed a breakout-pullback-continuation pattern above the EMA9 level with improved volumes. The MACD Histogram has extended another green bar, while the RSI has risen above 50. Price may trend higher, targeting the RM0.775-RM0.85 levels. Support will be pegged around the RM0.66 level.

Source: Mplus Research - 7 Aug 2019