The FBM KLCI jumped above the EMA60 level as banking and oil & gas heavyweights were traded higher. The MACD indicator expanded positively above zero, while the RSI is hovering above 50. The FBM KLCI may trend higher towards the 1,692 and 1,700 levels over the near term. Support will be set around 1,630.

GENETEC experienced a breakout above the RM0.165 level with improved volumes. The weekly MACD Indicator has issued a “Buy” signal, while the weekly RSI has hooked above 50. Price may rally towards the RM0.195 and RM0.22 levels. Support will be located around the RM0.155 level.

WILLOW experienced a short term consolidation breakout above the RM0.715 level with higher-than-average volumes. The MACD Histogram has turned green, while the RSI is hovering above 50. Price target will be envisaged around the RM0.855 and RM0.91 levels. Support will be pegged around the RM0.695 level.

MKH experienced a flag formation breakout above the RM2.28 level with improved volumes. The MACD Line is trending higher above the zero level. The RSI, however, is overbought. Price may rally towards the RM2.56-RM2.64 levels after a short consolidation. Support will be anchored around the RM2.23 level.

Source: M+ Online Research - 7 Oct 2015