The FBM KLCI continues to decline last Friday after the EMA9 crossed below EMA20 on Thursday. Also, the MACD Indicator trended lower, while the RSI is hovering below 50. Resistance will be envisaged around the 1,840-1,850 levels. Meanwhile, support will be located around the 1,800 level.

GDEX charged higher with high volumes after rebounding off the EMA9 level. The weekly MACD Histogram has turned green, while the weekly RSI has crossed above 50. Monitor for a breakout above the RM2.25 level, targeting the RM2.49 and RM2.82 levels. Support will be pegged around the RM2.00 level.

ASTRO has consolidated over the past five months between the RM3.13-RM3.44 levels. The weekly MACD indicator continues to trend higher, while the weekly RSI is hovering above 50. Monitor for a breakout above the RM3.44 level, targeting the RM3.80-RM4.00 levels. Support will be set around the RM3.13 level.

MITRA experienced a flag formation breakout above the RM1.00 level with improved volumes. The MACD Histogram has turned green, while the RSI continues to hover above the 50 level. Price target will be envisaged around the RM1.09 and RM1.20 levels. Support will be pegged around the RM0.95 level.

Source: M+ Online Research - 17 Nov 2014