Extended bargain hunting activities within the plantations heavyweights sent the FBM KLCI higher above the EMA9 level. The MACD Histogram has turned green, while the RSI is hovering above 50. The key index may trend higher towards 1,640-1,660. Support will be pegged around 1,600.

MEDIA experienced a short term breakout above the RM1.23 level with improved volumes after it rebounded off the RM1.14 level two weeks ago. The MACD Histogram has turned green, but the RSI is overbought. Monitor for a breakout above the RM1.27 level, targeting the RM1.46 level. Support will be located around RM1.14.

TNLOGIS experienced a sideways consolidation breakout above the RM1.07 level with higher-than-average volumes. The MACD Histogram has turned green, but the RSI is overbought. Price target will be pegged around the RM1.16 and RM1.26 levels. Support will be anchored around the RM1.04 level.

WCT experienced a resistance breakout above the RM1.38 level with improved volumes. The MACD Indicator has expanded positively above zero. The RSI, however, is above 70 (overbought). Price may rally towards the RM1.52 and RM1.62 levels after a short consolidation. Support will be located around the RM1.38 level.

Source: M+ Online Research - 2 Oct 2015