FBMKLCI

The  FBM KLCI has rebounded  to  end higher  and  above  the  1,838 level  yesterday,  forming  a  bullish  engulfing  bar.  The  MACD Histogram  has  turned green,  while the  RSI  is  hovering below 30. Resistance  will be located around the  1,850-1,860 levels. Support will be pegged around the 1,820-1,838 levels.

HHGROUP ( 0175)

HHGROUP has experienced a short term resistance breakout above the  RM0.51  level  with  improved  volumes.  The  MACD  indicator  has expanded  positively  above  zero,  while  the  RSI  is  trending  higher above  50.  Price  may  rally  towards  the  RM0.55-RM0.57  levels. Support will be set around the RM0.485 level.

CHINWEL ( 5007)  –  Weekly

CHINWEL  has  extended  its  upward  momentum  after  the  price rebounded  off  the  support  of  the  RM1.50  level,  forming  the Breakout-Pullback-Continuation formation.  The  weekly  MACD Line is  pointing upwards,  while the  weekly  RSI  is  above 50.  Price target will be envisaged around the RM1.78-RM1.85 levels.

SWSCAP (7186)  –  Weekly

SWSCAP  has  consolidated  sideways  over  the  past  three  months between  the  RM0.81-RM0.875 levels.  The  weekly MACD Histogram has  turned  green,  but the  weekly  RSI  is  overbought.  Monitor  for  a breakout  above  the  RM0.875  level,  targeting  the  RM1.00-RM1.04 levels. Support will be set around the RM0.81 level.

Source: Malacca Securities Research - 26 Sep 2014