The FBM KLCI has retested the 1,692 resistance level, forming a shooting star candle as selling pressure emerged. The MACD Indicator, however continues to trend higher. Nevertheless, the RSI is overbought. The FBM KLCI’s upside could be limited to around 1,700. Support will be set around 1,660.

PMETAL experienced a sideways consolidation breakout above the RM1.95 level with higher-than-average volumes. The MACD Histogram has turned green, but the RSI is overbought. Price may rally towards the RM2.33 and RM2.81 levels after a short consolidation. Support will be set around RM1.82.

DAYANG has experienced a consolidation breakout above the RM1.70 level with improved volumes. The MACD Histogram has turned green. The RSI, however, is overbought. Price may rally towards the RM2.00-RM2.13 levels after a mild consolidation. Support will be located around the RM1.62 level.

CAREPLS experienced a flag formation breakout above the RM0.46 level with higher-than-average volumes. The MACD Indicator is trending higher, while the RSI is hovering above 50. Price target will be envisaged around the RM0.51-RM0.535 levels. Support will be anchored around the RM0.44 level.

Source: M+ Online Research - 18 Sep 2015