Tracking the weakness on Wall Street overnight, the FBM KLCI extended its losses yesterday after failing to hold above the 1,630 resistance level. The MACD Indicator continues to trend negatively below the zero level, but the RSI maintains above 30. The FBM KLCI may revisit the support of 1,610. Meanwhile, the immediate resistance will be set around 1,630.

DIGISTA has staged a consolidation breakout above the RM0.185 level with improved volumes. The MACD Line has issued a “Buy” signal, while the RSI is trending above 50. Price may rally towards the RM0.21 and RM0.235 levels. Support will be located around RM0.17.

CEPAT has experienced a flag formation breakout above the RM0.86 level 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 RM0.95 and RM 1.00 levels, upon the breakout of above RM0.885. Support will be anchored around the RM0.835 level.

POHUAT has rebounded off the EMA9 level with high volumes. The MACD Histogram has turned green, while the RSI is trending above 50. Monitor for a breakout above the RM1.66 level. Price target will be envisaged around RM1.71 and RM1.79. Support will be located around RM1.62.

Source:M+ Online Research - 18 Nov 2016