The FBM KLCI ended lower, led by banking stocks like CIMB and RHBCAP. The MACD Line is hovering below zero, while the RSI has tripped below 30. The FBM KLCI may stay sideways over the near term. Resistance will be envisaged around the 1,840-1,850 levels. Support will be set around the 1,820 level.

The FBM KLCI ended lower, led by banking stocks like CIMB and RHBCAP. The MACD Line is hovering below zero, while the RSI has tripped below 30. The FBM KLCI may stay sideways over the near term. Resistance will be envisaged around the 1,840-1,850 levels. Support will be set around the 1,820 level.

ESCERAM has rebounded off the RM0.22 level with improved volumes and ended above EMA9. The MACD Histogram has turned green, while the RSI is hovering above 50. Price is likely to rally towards the target of the RM0.275-RM0.30 levels. Support will be pegged around the RM0.205 level.

SMRT’s share price staged a breakout above the RM0.835 level with strong volumes. The MACD indicator has issued a “Buy” signal, while the RSI is hovering near the 50 level. Follow-through buying interest is likely to boost the price towards the RM1.00 level over the near term. Support will be located around the RM0.78 level.

Source: M+ Online Research - 21 Nov 2014