After retesting the 1,840 level, the FBM KLCI has ended lower on Friday amid selling pressure among O&G stocks. The MACD indicator has turned lower, while the RSI has crossed below 70. The FBM KLCI’s upsides are likely to be capped around the 1,840-1,850 levels. Support will be set around the 1,820 level.

ABRIC has consolidated around the EMA60 level with lower volumes. The MACD Line is trending higher towards the zero level. The RSI, however, has crossed below 70. Monitor for a breakout above the RM0.655 level, targeting the RM0.72 and RM0.785 levels. Support will be envisaged around the RM0.635 level.

WILLOW has experienced a breakout above the RM0.875 level with improved volumes. The MACD Histogram has turned green, while the EMA20 has crossed above EMA60. Price may rally towards the recent high between the RM0.95-RM1.00 levels. Support will be set around the RM0.85 level.

PANPAGE has rebounded off the RM0.37 level with improved volumes. The MACD Line is located above zero, while the RSI is hovering above 50. Monitor for a breakout above the RM0.395 level; price target will be envisaged around the RM0.425 and RM0.46 levels. Support will be pegged around the RM0.37 level.

Source: M+ Online - 10 Nov 2014