The FBM KLCI ended in the negative territory for the first time in ten days. The MACD Histogram extended another red bar, while the RSI is still overbought. The key index is likely to pullback further below the 1,700 level. The resistance is located around the 1,744 level. Support will be set around 1,660.

SIGN has experienced a two-week consolidation breakout above the RM2.37 level with improved volumes. The MACD Indicator has issued a “Buy” signal, while the RSI has hooked above 50. Price may rally towards the RM2.68 and RM2.89 levels. Support will be pegged around the RM2.26 level.

SCABLE experienced a trendline breakout above the RM1.43 level with higher-than-average volumes. The MACD Line is approaching zero, while the RSI has crossed above 50. Price may rally towards the RM1.56, RM1.63 and RM1.73 levels after a mild consolidation. Support will be pegged around RM1.43.

ARANK trended sideways over the past two weeks above the EMA9 level with improved volumes. The MACD Histogram has turned green. The RSI, however, tripped below 70. Monitor for a breakout above the RM0.52 level, targeting the RM0.59 and RM0.65 levels. Support will be anchored around the RM0.495 level.

Source: M+ Online Research - 21 Oct 2015