The FBM KLCI formed a bearish engulfing candle to close below the EMA9 level as the key index closed lower to around the 1,591.52 level yesterday. The MACD Histogram has turned red, while the RSI remains below 50. Resistances will be pegged around the 1,600-1,610 levels. Support will be set around the 1,580 level.

FAVCO has formed a bullish harami candle to remain above the EMA9 level. The MACD Histogram has extended another red bar, but the RSI remains above 50. Price targets are envisaged at around the RM2.88-RM3.00 levels. Support will be anchored around the RM2.71 level.

CYPARK has extended its gains to re-test the EMA20 level with improved volumes. The MACD Histogram has extended another green bar, while the RSI is re-testing 50. Monitor for a breakout above the RM1.35 level, targeting the RM1.47-RM1.53 levels. Support will be pegged around the RM1.25 level.

FRONTKN has gapped-up to close above the EMA20 level with mildly improved volumes. The MACD Histogram has turned green, while the RSI has risen above 50. Monitor for a short-term resistance breakout above the RM1.62 level, targeting the RM1.72-RM1.80 levels. Support will be pegged around the RM1.53 level.

Source: Mplus Research - 4 Sept 2019