The FBM KLCI extended its selling pressure below the EMA20 level amid further selling pressure on the index heavyweights. The MACD Line turns flat, but the RSI is hovering above 50. Resistance of the FBM KLCI will be located around the 1,660 level. Support will be set around the 1,600 level.

MFLOUR experienced a flag formation breakout above the RM1.29 level with improved volumes. The MACD Histogram has turned green, while the RSI is approaching the overbought level. Price target will be envisaged around the RM1.36 and RM1.46 levels. Support will be anchored around the RM1.25 level.

IQGROUP experienced a resistance breakout above the RM2.03 level with high volumes. The MACD Line is trending higher, while the RSI has surged above 50. Price may rally towards the RM2.43 level after a short consolidation. Support will be anchored around the RM1.93 level.

BONIA trended sideways over the past two weeks between the RM0.695-RM0.72 levels with improved volumes. The MACD Line is surging higher towards zero, but the RSI has tripped below 50. Monitor for a breakout above the RM0.72 level, targeting the RM0.80 and RM0.915 levels. Support will be pegged around RM0.695.

Source: M+ Online Research - 25 Sep 2015