The FBM KLCI has extended its rebound near the EMA20 level. The MACD Histogram continues to rise further, while the RSI has crossed above 30. The key index may retest the near term resistance of the 1,820 level, followed by the 1,838 level. Support will be located around the 1,770 level.

OVERSEA has experienced a short term breakout above the RM0.225 level with improved volumes. The MACD Line has crossed above zero, while the RSI is trending higher above 50. Price may rally towards the RM0.27 and RM0.31 levels. Support will be pegged around the RM0.195 level.

BJAUTO has rebounded above the RM3.00 psychological level and sustained its movement above the EMA20 level. The MACD indicator trended higher, but the RSI is below 50. Price may rally towards the RM3.47 and RM3.70 levels after a short consolidation. Support will be pegged around the RM3.00 level.

THHEAVY has rebounded above the RM0.575 level after a sharp correction below the RM0.80 level. The MACD Histogram has extended another green bar and the RSI is oversold. Price is likely to rebound higher towards the RM0.67 level over the near term. Support will be set around the RM0.52 level.

Source: M+ Online Research - 24 Oct 2014