The FBM KLCI recovered most of its previous session’s losses as the key index re-claimed the 1,600 psychological level to close at around the 1,602.47 level yesterday. The MACD Histogram has extended another green bar, but the RSI remains below 50. Resistances will be pegged around the 1,620-1,630 levels. Support will be set around the 1,580 level.

MIECO has formed a bullish engulfing candle to rebound off the EMA9 level with improved volumes. The MACD Histogram has turned green, while the RSI remains above 50. Price may trend higher, targeting the RM0.36 and RM0.38 levels. Support will be set around the RM0.31 level.

MYEG has gapped-up to rebound off the EMA120 level. The Histogram has turned green, but the RSI remains oversold. Monitor for a trendline breakout above the RM1.47 level, targeting the RM1.53- RM1.60 levels. Support will be anchored around the RM1.42 level.

SNTORIA has experienced a resistance breakout above the RM0.245 level on high volumes. The MACD Line has risen above the zero level, while the RSI remains above 50. Price may advance, targeting the RM0.285-RM0.32 levels. Support will be pegged around the RM0.22 level.

Source: Mplus Research - 23 Aug 2019