The FBM KLCI rebounded around the 1,770 level, forming a bullish engulfing bar. The MACD Histogram has turned green, while the RSI is spiking upwards in the oversold region. The FBM KLCI may continue its technical rebound towards the 1,800-1,820 levels. Support will be set around the 1,770 level.

OKA has retraced towards the RM0.96 level and rebounded last week. The MACD Histogram has turned green, but the RSI is indicating that the price could be oversold. Price could rebound towards the RM1.12 level and the RM1.27 levels. Support will be located around the RM0.96 level.

TEKSENG has experienced a breakout above the RM0.81 level with improved volumes. The MACD indicator has expanded positively above zero, while the RSI has crossed above 50. Price target will be pegged around the RM0.875 and RM1.00 levels. Support will be located around the RM0.745 level.

SLP has formed a breakout-pullback-continuation pattern above the RM0.55 level. With the MACD Histogram turning green and the RSI rebounded above 30, SLP’s price is likely to continue its upward momentum towards the RM0.545-RM0.57 levels over the near term. Support will be pegged around the RM0.55 level.

Source: M+Online Research - 20 Oct 2014