The FBM KLCI extended its losses, bucking the positive sentiment across global equities as the key index closed lower to around the 1,599.22 level last Friday. The MACD Histogram has extended another green bar. The RSI, however, remains oversold. Resistances will be pegged around the 1,620-1,630 levels. Support will be set around the 1,580 level.

KRONO has advanced to close above the EMA120 level with mildly improved volumes. The MACD Histogram has extended another green bar, but the RSI remains below 50. Monitor for a consolidation breakout above the RM0.60 level, targeting the RM0.645 and RM0.665 levels. Support will be set around the RM0.57 level.

PCCS has experienced a short-term consolidation breakout above the RM0.51 level with high volumes. The MACD Indicator has issued a BUY Signal, but the RSI has risen above 50. Price may advance, targeting the RM0.57-RM0.63 levels. Support will be anchored around the RM0.475 level.

MALAKOF has formed a bullish candle to close the EMA20 level with improved volumes. The MACD Histogram has turned green, while the RSI is approaching 50. Monitor for a trendline breakout above the RM0.885 level, targeting the RM0.93-RM0.96 levels. Support will be pegged around the RM0.85 level.

Source: Mplus Research - 19 Aug 2019