Following the abating selloff in emerging markets bonds, coupled with stabilising crude oil prices, the FBM KLCI rebounded above the 1,630 level before closing around the 1,630.56 pts yesterday. The MACD Histogram has turned green but is still below the zero level, while the RSI has hooked above 30. Resistance will be pegged around the 1,645-1,660 levels. Support will be set around the 1,610 level.

AWC’s share price has performed a symmetrical breakout above the RM0.81 level with improved volumes. The MACD Line is approaching the zero level, while the RSI has crossed above 50. Price target will be envisaged around the RM0.91 and RM1.00 levels. Support will be set around the RM0.775 level.

CENTURY’s share price has broken out above the short term trendline at RM0.925 with minor improvements in volumes. The MACD Histogram has extended another green bar, while the RSI is approaching the 50 level. Price may rally towards the RM0.99-RM1.05 levels. Support will be anchored around the RM0.90 level.

OPENSYS has formed a breakout-pullback-continuation pattern above the RM0.375 (EMA9 level) with high volumes. The MACD Line has turned green and trended positively above the zero level. The RSI, however, is overbought. Price might retest the RM0.42 resistance level and head towards RM0.45 level. Support will be pegged around the RM0.375 level.

Source: M+ Online Research - 16 Nov 2016