The FBM KLCI maintained its stance above the 1,600 psychological level as the key index closed at around the 1,616.02 level yesterday. The MACD Histogram has turned green, while the RSI has recovered from the oversold level. Resistance will be pegged around the 1,630-1,640 levels. Support will be set around the 1,600 level.

OCK has experienced a short-term trendline breakout above the RM0.53 level. The MACD Histogram has extended another green bar, while the RSI has recovered from the oversold level. Price may trend higher, targeting the RM0.57 and RM0.60 levels. Support will be set around the RM0.50 level.

DUFU has rebounded off the EMA20 level with high volumes. The MACD Histogram has extended another green bar, while the RSI remains above 50. Monitor for a breakout above the RM1.97 level, targeting the RM2.08-RM2.20 levels. Support will be anchored around the RM1.81 level.

SCOMNET has formed a bullish harami candle to close above the EMA9 level on low volumes. The MACD Indicator has issued a BUY Signal, while the RSI is approaching 50. Price may advance, targeting the RM0.80-RM0.835 levels. Support will be pegged around the RM0.69 level.

Source: Mplus Research - 9 Aug 2019