Tracking the gains on Wall Street overnight, the FBM KLCI trended higher as key index closed at around the 1,602.75 level yesterday. The MACD Histogram has extended another green bar, while the RSI has recovered from oversold. Resistances will be pegged around the 1,620-1,630 levels. Support will be set around the 1,590 level.

VS has experienced a consolidation breakout above the RM1.16 level with improved volumes. The MACD Indicator has issued a BUY Signal, while the RSI has risen above 50. Price may stage a minor pullback, before targeting the RM1.26 and RM1.32 levels. Support will be set around the RM1.11 level.

JAKS has experienced a symmetrical triangle formation breakout above the RM0.77 level with rising volumes. The MACD Histogram has extended another green bar, while the RSI is re-testing 50. Price targets are envisaged around the RM0.82-RM0.865 levels. Support will be anchored around the RM0.72 level.

KGB has gapped-up to close above the EMA60 level. The MACD Histogram has extended another green bar, while the RSI has risen above 50. Monitor for a breakout above RM1.29 level, targeting the RM1.38- RM1.41 levels. Support will be pegged around the RM1.21 level.

Source: Mplus Research - 21 Aug 2019