Selling activities extended on Bursa Malaysia and the FBM KLCI traded towards 1,660 before it rebounded to close at 1,664.72 pts (-4.78 pts). The MACD Line is hovering below the zero level, while the RSI is threading below 50. The FBM KLCI’s upside will be set around the 1,680 level, while the support will be located around the 1,660 level.

ILB has experienced a breakout above the RM0.815 level with higher-than-average volumes. The MACD Indicator has expanded positively above zero, while the RSI is trending higher above 50. Price may rally towards the RM0.88-RM0.91 levels after a short consolidation. Support will be pegged around the RM0.79 level.

FLBHD stayed above the EMA9 level improved volumes. The MACD Line is approaching zero, while the RSI is hovering above 50. Price may rally towards the target of the RM1.68 and RM1.79 levels. Support will be anchored around the RM1.55 level.

ELSOFT has surged above the RM1.85 level with higher-than-average volumes. The MACD Indicator has issued a “Buy” signal. The RSI, however is overbought. Price could rally towards the RM1.97 and RM2.02 levels after a mild pause. Support will be located around the RM1.79 level.

Source: M+ Online Research - 28 Sep 2016