Malalysia Stock Market Technical Outlook 30 July

Market Review for KLCI:
Malaysian stocks opened on a mixed note at 1884.08 and turned slightly lower at midday today in active trading, with interest seen in selected heavyweights and penny stocks.

KLCI Day Performance
Open	1884.08
High	1886.39
Low	1877.51
Close	1878.34
Change(Points)	1.00
% Change	0.05%
Volume	2117.5M
Rise	461
Fall	408
Unch	1401

Market forecast for KLCI:
Market has lead by PPB, GENM, KLCC, AXIATA and DIGI, rest share prices has taken up correction by maintaining an uptrend. Prices might open in between 1879-1880.

KLCI LEVELS
Support 1	Support 2	Support 3	Resistance 1	Resistance 2	Resistance 3
1869	1860	1845	1888	1898	1913

Technical indicators:RSI stood below the centre line at 48.675 with its CCI at -16.260. Difference line of MACD performed at -1.218 below its signal line which performed at 0.110.

Top Gainers			Top Losers
Scrip Name	CMP	%change	Scrip Name	CMP	%change
PPB	15	2.74	FGV	4.1	-1.68
GENM	4.35	1.64	TM	6.3	-1.1
KLCC	6.45	1.26	MAXIS	6.67	-0.89
AXIATA	6.94	0.73	IHH	4.71	-0.84
DIGI	5.73	0.7	PETDAG	18.94	-0.53

Economic Factors:

• The Malaysian Automotive Association had on July 23 revised upwards its total industry volume (TIV) forecast for this year to 680,000 units from the earlier target of 670,000 units.
• Bina Puri Holdings Bhd, confident of its future growth, says it is bullish to end the current financial on a firm note despite sentiment being impacted by the delay in handing over the Kuala Lumpur International Airport 2 (klia2) project.
• Malaysian banks given new threats to earnings growth, despite interest rates hike.