The FBM KLCI snapped a nine-day winning streak on profit taking activities as the key index closed at 1,754.67 level last Friday. The MACD Histogram has turned red, while the RSI is overbought. Resistance will be pegged around the 1,780-1,790 levels. Support will be set around the 1,730 level.

FPI has rebounded, forming a bullish candle to close above the EMA60 level. The MACD Histogram has extended another green bar, while the RSI is hovering above 50. Monitor for a breakout above RM1.44, targeting the RM1.55 and RM1.65 levels. Support will be set around the RM1.34 level.

MIKROMB has experienced a consolidation breakout above RM0.305 level with improved volumes. The MACD Histogram has turned green. The RSI, however, is slightly overbought. Price may stage a technical rebound towards the RM0.325-RM0.345 levels after a short consolidation. Support will be anchored around the RM0.29 level.

PUNCAK has extended its gains to close above the EMA120 level. The MACD Histogram has extended another green bar, while the RSI remains above 50. Monitor for a breakout above the RM0.59 level, targeting the RM0.635-RM0.695 levels. Support will be pegged around the RM0.53 level.

Source: Mplus Research - 23 Jul 2018