Once again, the FBM KLCI has declined amid profit taking activities among index heavyweights, marking the fourth day of the pullback. The MACD Histogram has weakened and the RSI is indicating that the key index is overbought. Support will be pegged around the 1,800-1,820 levels.

BPPLAS experienced a breakout above the RM0.86 level with strong volumes. The MACD Line has crossed above zero, but the RSI is overbought. Price is likely to head higher towards the RM1.00 and RM1.09 levels after a mild consolidation. Support will be pegged around the RM0.775 level.

LEONFB has rebounded off the EMA9 level with improved volumes – suggesting that the buying support has picked up. The MACD Histogram has turned green, but the RSI is slightly overbought. Price target will be located around the RM0.655 and RM0.70 levels. Support will be set around the RM0.57 level.

IDEALUBB has consolidated sideways above the EMA9 level with high volumes. The MACD indicator has expanded positively above zero. The RSI, however, is overbought. Monitor for a breakout above the RM0.865 level, targeting the RM0.98 and RM1.15 levels. Support will be located around the RM0.78 level.

Source: M+ Online Research - 7 Nov 2014