The FBM KLCI continues to rebound above the EMA20 level on the back of some last minute buying support on selected index heavyweights. The MACD Histogram extended another green bar, while the RSI is approaching 50. Resistance will be pegged around the 1,838 level. Support will be set around the 1,820 level.

IOIPG has experienced a trendline breakout above the RM2.55 level accompanied by improved volumes, following the B-P-C formation above the RM2.47 level last week. The MACD indicator has issued a “Buy” signal. Price target will be located around the RM2.83-RM3.00 levels. Support will be set around the RM2.47 level.

HSL has ended above the weekly EMA20 level with improved volumes. The weekly MACD indicator is trending higher, while the weekly RSI has hooked above 50. Monitor for a resistance breakout above the RM2.00 level, targeting the RM2.40 level. Support will be envisaged around the RM1.75 level.

CAREPLS has surged strongly above the RM0.45 level accompanied by high volumes. The MACD indicator has expanded positively above zero, but the RSI is slightly overbought. Price may rally towards the RM0.53-RM0.57 levels after a short consolidation. Support will be pegged around the RM0.40 level.

Source: M+ Plus Online Research - 29 Oct 2014