Tracking the weakness across key regional indices, the FBM KLCI extended its losses to close at around 1,781.37 pts yesterday. The MACD Histogram has turned red, while the RSI remains above 50. Resistance will be pegged around the 1,790-1,800 levels. Support will be set around the 1,760 level.

CRESBLD has formed a bullish engulfing candle above the EMA120 level with improved volumes. The MACD Histogram has turned green, but the RSI remains below 50. Monitor for a breakout above the RM1.10 level, targeting the RM1.19-RM1.22 levels. Support will be anchored around the RM1.04 level.

GFM has formed a breakout-pullback-continuation pattern above the EMA20 level accompanied by higher volumes. The MACD Histogram has turned green, but the RSI is slightly overbought. Price may trend higher, targeting the RM0.705-RM0.76 levels. Support will be pegged around the RM0.615 level.

After finding support above the RM1.20 level, GADANG has experienced a short-term breakout above the RM1.25 level. The MACD Indicator has issued a BUY signal, while the RSI remains above 50. Price may rally, targeting the RM1.32-RM1.37 levels. Support will be set around the RM1.20 level.

Source: Mplus Research - 15 Sept 2017