Once again, the FBM KLCI trended sideways near the 1,670 level as traders were cautious ahead of conclusion of the FOMC meeting. The MACD Line is hovering above zero level, while the RSI is staying above 50. Resistance will be pegged around 1,680-1,700. Support will be set around 1,645.

HEXZA has rebounded off the EMA9 level with improved volumes and experienced a short term breakout above RM0.97. The MACD Histogram has turned green, while the RSI is above 50. Price target will be envisaged around the RM1.00-RM1.05 levels. Support will be pegged around RM0.95.

PESTECH has turned sideways between the RM1.66-RM1.70 levels over the past three weeks. The MACD Indicator is suggesting that the momentum is positive. However, the RSI is hovering below 50. Monitor for a breakout above the RM1.70 level, targeting the RM1.82-RM1.90 levels. Support will be anchored around the RM1.66 level.

HEVEA has formed a Breakout-Pullback-Continuation pattern above the RM1.34 level with improved volumes. The MACD Histogram has turned green, while the RSI has hooked above 50. Price target will be located around the RM1.51-RM1.62 levels. Support will be pegged around the RM1.34 level.

Source: M+ Online Research - 2 Nov 2016