FBMKLCI

The  FBM  KLCI  violated  the  1,838  level  with a  bearish  engulfing candle. The  MACD Histogram  has  turned  red,  in  tandem  with the MACD  Line.  The  RSI  is  hovering  below  50.  The  key  index  may pullback  towards  the  support  of  the  1,800-1,820  levels. Resistance will be set around the 1,850-1,860 levels.

KPJ (5878)

KPJ  trended  sideways  around  the  RM3.74-RM4.00  levels.  The MACD Histogram  has  turned green,  while the  MACD Line  is  above zero.  The  RSI  is  trending  higher  above  50.  Monitor  for  a  breakout above  the  RM4.00, targeting the  RM4.23-RM4.50 levels. Support will be set around the RM3.74 level.

BORNOIL (7036)

BORNOIL  has  sustained its  price movements above the  EMA9 level after a volatile trading last Friday. The MACD Line is hovering above zero, but the RSI is overbought. Price may rally towards the RM0.745 level  after  a  short consolidation. Support  will be pegged  around the RM0.635 level.

JIANKUN (8923)

JIANKUN  experienced  a  flag formation  breakout above  the  RM0.44 level  with  improved  volumes.  The  MACD  indicator  has  expanded positively above zero. The  RSI, however,  is  overbought. Monitor for a  breakout  above  the  RM0.49  level,  with  a  price  target  envisaged around the RM0.60 level. Support is set around the RM0.43 level.

Source: M+ Online Research - 8 Oct 2014