The FBM KLCI succumbed to further selling pressure yesterday as the key index recorded its eighth consecutive session of decline, closing at around 1,758.06 pts yesterday. The MACD Histogram has extended another red bar, while the RSI slipped into the oversold position. Resistance will be pegged around the 1,770-1,780 levels. Support will be set around the 1,750 level.

CRESBLD has rebounded off the EMA120 level accompanied by improved volumes. The MACD Histogram has turned green, but the RSI remains below 50. Monitor for a trendline breakout above the RM1.06 level, targeting the RM1.14-RM1.22 levels. Support will be anchored around the RM1.03 level.

SAMCHEM has experienced a flag-formation breakout above the EMA9 level. The MACD Line has expanded positively above the zero level, but the RSI is overbought. Price may rally, targeting the RM1.00-RM1.03 levels. Support will be pegged around the RM0.93 level.

BRAHIMS has experienced a flag-formation breakout above the RM0.585 level with high volumes. The MACD Histogram has turned green, but the RSI is slightly overbought. Price may trend higher, targeting the RM0.645-RM0.69 levels after a mild consolidation. Support will be set around the RM0.56 level.

Source: Mplus Research - 29 Sept 2017