Tracking the gains on Wall Street after the Fed kept interest rates unchanged, the FBM KLCI ended on a positive note near 1,670. The MACD Histogram extended another green bar. The RSI is trending higher towards 50. The FBM KLCI may continue its short term momentum towards 1,680. Support will be set around the 1,640 level.

EITA has experienced a short term breakout above the RM1.35 level with improved volumes. The MACD Indicator expanded positively above zero, while the RSI has surged above 50. Price may rally towards the RM1.47-RM1.50 levels. Support will be set around RM1.26.

FPI has formed a flag formation breakout above the RM0.805 level with higher-than-average volumes. The MACD Line is trending positively above zero, but the RSI is overbought. Price may rally towards the RM0.86 and RM0.905 levels after a short consolidation. Support will be pegged around the RM0.785 level.

GDEX continues to stay above the EMA120 level over the past two weeks. The MACD Indicator is trending higher above zero, while the RSI is hovering above 50. Monitor for a breakout above the RM1.60 level, targeting the RM1.67-RM1.72 levels after a short consolidation. Support will be pegged around RM1.54.

Source: M+ Online Research - 23 Sep 2016