Following the positive momentum on the overnight Dow, the FBM KLCI managed to eke-out marginal gains on the back of last minute buying support. The MACD Histogram extended another green bar, while the RSI has crossed above 50. The FBM KLCI may trend higher towards the 1,680 level. Support will be set around 1,660.

AISB has experienced a short term breakout above the RM0.61 level with improved volumes. The MACD Line is hovering above zero, but the RSI is overbought. Price may rally gradually towards the RM0.66 and RM0.70 levels after a mild pause. Support will be anchored around the RM0.585 level.

SAMCHEM has trended sideways between the RM1.04 to RM1.10 level over the past week. The MACD Line is trending positively above zero. The RSI, however, is overbought. Monitor for a breakout above the RM1.10 level, targeting the RM1.20-RM1.25 levels. Support will be located around the RM1.04 level.

WASEONG has experienced a strong breakout above the RM0.87 level with higher-than-average volumes. The MACD Indicator is heading higher above zero, while the RSI is hovering above 50. Price is likely to rally towards the RM0.97-RM1.00 levels over the near term. Support will be envisaged around the RM0.855 level.

Source: M+ Online Research - 26 Sep 2016