The FBM KLCI has pulled back after a three-day winning streak. The MACD Indicator has issued a “Buy” signal, but it is hovering below zero. The RSI has crossed above 50. Resistance will be envisaged around the 1,680 level. Meanwhile, support will be located around the 1,640 level.

GCB continues to stay above the EMA9 level with improved volumes. The MACD Indicator expanded positively above zero, but the RSI is overbought. Price may rally towards the RM1.17 and RM1.34 levels after a short consolidation. Support will be anchored around the RM1.02 level.

WILLOW experienced a flag formation breakout above the RM0.715 level with higher-than-average volumes. The MACD Histogram has turned green, while the RSI is trending above 50. Price target will be pegged around the RM0.80-RM0.83 levels. Support will be set around RM0.69.

PETRONM has experienced a short term breakout above the RM4.20 level with improved volumes. The MACD Indicator has issued a “Buy” signal, while the RSI is trending above 50. Price target will be envisaged around the RM4.54 and RM4.96 levels. Support will be located around the RM4.11 level.

Source: M+ Online Research - 10 Oct 2016