Tracking the negative performance on the overseas markets, the FBM KLCI ended lower for another session. The MACD Indicator has issued a “Sell” signal, while the RSI has crossed below 50. The FBM KLCI may revisit the support of 1,645. Meanwhile, the resistance will be set around 1,660.

SASBADI trended sideways after the breakout of RM1.35 last week with high volumes. The MACD Indicator expanded positively above zero, but the RSI is overbought. Price may rally towards the RM1.60-RM1.65 levels after a short consolidation. Support will be pegged around RM1.35.

TMCLIFE experienced a consolidation breakout above the RM0.965 level with higher-than-average volumes. The MACD Indicator has issued a “Buy” signal, while the RSI is trending above 50. Price may rally towards the RM1.00 and RM1.05 levels. Support will be located around RM0.935.

PESONA has gapped up and rebounded off the EMA9 with higher-than-average volumes. The MACD Line is trending above zero, while the RSI is hovering above 50. Monitor for a breakout above the RM0.47 level, targeting the RM0.53 and RM0.555 levels. Support will be anchored around the RM0.425 level.

Source: M+ Online Research - 4 Nov 2016