The selling pressure on O&G heavyweights persisted and the FBM KLCI stayed below the EMA 9 level. The MACD Histogram extended another red bar, but the RSI is above 50. Resistance will be envisaged around the 1,850-1,860 levels. Support will be located around the 1,800-1,820 levels.

JIANKUN has experienced a consolidation breakout above the RM0.58 level with high volumes. The MACD Histogram has turned green, while the RSI is hovering near 50. Price may rally towards the target of the RM0.77 and RM0.93 levels after a short consolidation. Support will be set around the RM0.50 level.

OKA has gapped up and retested the RM1.13 level with improved volumes yesterday. The MACD Line is approaching zero, while the RSI continues to trend higher above 50. Monitor for a breakout above the RM1.13 level, targeting the RM1.23 and RM1.33 levels. Support will be pegged around the RM1.03 level.

MASTER has breached above the short term trendline with improved volumes after the price rebounded off the RM0.70 level last month. The MACD Histogram has turned green, while the RSI has hooked above 30. Price target will be located around the RM0.89 and RM1.00 levels. Support is set around the RM0.70 level.

Source: M+ Online Research - 12 Nov 2014