The FBM KLCI rebounded strongly on the back of bargain hunting activities ahead of Budget 2017. The MACD Histogram has turned green, while the RSI has hooked above 50. The FBM KLCI may retest the 1,670-1,680 levels. Support will be pegged around 1,645.

MYEG has surged above the RM2.33 level with improved volumes. The MACD Indicator expanded positively above zero, while the RSI is hovering above 50. Price target will be envisaged around the RM2.50-RM2.60 levels. Support will be located around the RM2.25 level.

SOLUTN has broken out of the flag pattern with higher-than-average volumes. The MACD indicator has expanded positively above zero, while the RSI is trending positively above 50. Price may rally towards the RM0.29 and RM0.315 levels. Support will be set around RM0.255.

IQGROUP has experienced a breakout above the RM2.27 level with high volumes. The MACD Indicator has issued a “Buy” signal above zero and the RSI has crossed above 50. Price may rally towards the RM2.46 and RM2.71 levels after a short consolidation. Support will be anchored around RM2.19.

Source: M+ Online Research - 19 Oct 2016