Following the Ringgit’s weakness which tumbled to 10-months low against the Greenback, the FBM KLCI extended its losses for the third straight session before closing at 1,623.80 pts last Friday. The MACD Line has trended negatively below the zero level, while the RSI has tripped below 30. Resistance will be pegged around the 1,630-1,645 levels. Support will be set around the 1,610 level.

SUNWAY has found some support above the RM2.99 level. Monitor for a breakout above RM3.05. The MACD Histogram has turned green, while the RSI has hooked above 30. Price target will be envisaged around the RM3.19 and RM3.24 levels. Support will be set around the RM2.99 level.

MAHSING has formed a bullish engulfing candle after having rebounding from the RM1.49 level. Monitor for a short-term consolidation breakout above RM1.56. The MACD Histogram has turned green, while the RSI continues to hover above 50. Price may recover towards the RM1.65-RM1.70 levels. Support will be anchored around the RM1.49 level.

GESHEN has retested the RM1.76 resistance level after rebounding from the EMA9 level with high volumes. The MACD Histogram has extended another green bar, while the RSI continues to trend above 50. Monitor for a breakout above the RM1.76 level, targeting the RM1.95-RM2.23 levels. Support will be pegged around the RM1.64 level.

Source:Mplus Online Research - 21 Nov 2016