The FBM KLCI ended marginally lower below the EMA60 level yesterday. The MACD Histogram extended another red bar, while the RSI has tripped below 30. The FBM KLCI may pullback below the 1,660 level and could trend lower towards the 1,600 level. Meanwhile, the resistance will be set around 1,700.

BHS has experienced a flag formation breakout above the RM0.40 level with improved volumes. The MACD Line has crossed above zero, while the RSI continues to trend higher above 50. Price could rally towards the RM0.52 level after a short consolidation. Support will be pegged around the RM0.385 level.

ASTINO experienced a strong sideway consolidation breakout above the RM0.56 level with high volumes. The MACD Indicator has expanded positively above zero, but the RSI is slightly overbought. Price target will be envisaged around the RM0.76-RM0.83 levels. Support will be anchored around RM0.625.

OLDTOWN has formed a bullish engulfing bar above the EMA20 level with higher-than-average volumes. The MACD Histogram has turned green. The RSI is hovering above 50 – suggesting that the momentum is intact. Monitor for a breakout above the RM1.44 level, targeting the RM1.62 level. Support will be located around RM1.36.

Source: M+ Online Research - 13 Nov 2015