The FBM KLCI trended sideways around the 1,700 level on a cautious note as the key index formed smaller candles over the past week. The MACD Histogram extended another red bar, while the RSI is overbought. The FBM KLCI’s upside will be capped at around 1,744. Support will be set around 1,692.

GDEX experienced a breakout above the RM1.19 level with high volumes. The MACD Histogram has turned green, but the RSI has crossed marginally above 70. Price may rally towards the RM1.38 and RM1.44 levels after a short consolidation. Support will be pegged around the RM1.16 level.

OCNCASH experienced a breakout above the RM0.37 level with improved volumes. The MACD Indicator has expanded positively above zero, while the RSI is trending positively above 50. Price target will be envisaged around the RM0.42-RM0.435 levels. Support will be located around the RM0.365 level.

TEKSENG formed a bullish engulfing bar above the EMA9 with improved volumes. The MACD Indicator expanded positively above zero. The RSI, however, is slightly overbought. Price may rally towards the RM0.57 and RM0.62 levels after a mild consolidation. Support will be set around the RM0.49 level.

Source: M+ Online Research - 19 Oct 2015