The FBM KLCI endured a volatile trading session before last-minute buying interest on selective index heavyweights nudged the key index higher to close at around 1,786.33 pts last Friday. The MACD Histogram has extended another red bar, 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.

MYEG has formed a bullish engulfing candle to close above the EMA60 level with improved volumes. The MACD Histogram has extended another green bar, while the RSI rose above 50. Monitor for a breakout above the RM2.13 level, targeting the RM2.25-RM2.37 levels. Support will be anchored around the RM2.00 level.

GOB has experienced a breakout above the RM0.40 level accompanied by high volumes. The MACD Line has expanded positively above the zero level, but the RSI is slightly overbought. Price may trend higher, targeting the RM0.435-RM0.47 levels after a mild pullback. Support will be pegged around the RM0.385 level.

UEMS has gapped up to close above the EMA120 level. The MACD Histogram has turned green, while the RSI remains above 50. Monitor for an ascending triangle breakout above the RM1.21 level, targeting the RM1.31-RM1.36 levels. Supp

Source: Mplus Research - 18 Sept 2017