The FBM KLCI endured some selling pressure on selective index heavyweights and causing it to linger in the negative territory before closing at around 1,776.66 pts yesterday. 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.

FPI has formed a bullish engulfing candle after finding support above the EMA60 level with improved volumes. The MACD Histogram has turned green, while the RSI recovered from the oversold position. Price may rally, targeting the RM1.35-RM1.40 levels. Support will be anchored around the RM1.14 level.

COMFORT has rebounded to close above the EMA20 level accompanied by higher volumes. The MACD Histogram has turned green, but the RSI is below 50. Monitor for a short-term trendline breakout, targeting the RM1.01-RM1.10 levels after a mild pullback. Support will be pegged around the RM0.92 level.

OCK has formed a bullish engulfing candle and subsequently re-tested the RM0.93 resistance level. The MACD Histogram has turned green, while the RSI has risen above 50. Monitor for a breakout above the RM0.93 level, targeting the RM0.985-RM1.00 levels. Support will be set around the RM0.885 level.

Source: Mplus Research - 20 Sept 2017