As the FBM KLCI traded higher towards the 1,670 level it faced mild selling pressure - the key index ended marginally lower yesterday led by losses on Maybank and Genting. The MACD Line is trending higher towards zero, but the RSI has tripped below 50. Resistance will be envisaged around 1,680. Support will be pegged around 1,645.

CYPARK has breached above the RM2.09 level with higher-than-average volumes. The MACD indicator expanded positively above zero and the RSI has hooked above 50. Price target will be located around the RM2.32 and RM2.53 levels. Support will be set around the RM1.98 level.

PRESTAR has rebounded off the EMA9 level with improved volumes. The MACD Line is hovering above zero. The RSI, however, is slightly below 50. Monitor for a breakout above the RM0.685 level, targeting the RM0.75 and RM0.805 levels. Support will be set around the RM0.66 level.

SKPRES has broken out of the consolidation phase with high volumes. The MACD Indicator expanded positively above zero. The RSI is trending positively above 50. Price may rally towards the RM1.44 and RM1.60 levels after a short consolidation. Support will be anchored around the RM1.28 level.

Source: M+ Online Research - 21 Oct 2016