There was no reprieve for the FBM KLCI as the key index recorded its ninth consecutive session of decline, closing at around 1,755.58 pts last Friday. The MACD Histogram has extended another red bar, while the RSI remains oversold. Resistance will be pegged around the 1,770-1,780 levels. Support will be set around the 1,750 level.

FPI has experienced a breakout-pullback-continuation pattern above the EMA20 level accompanied by improved volumes. The MACD Histogram has turned green, while the RSI has risen above 50. Price may trend higher, targeting the RM1.35-RM1.40 levels. Support will be anchored around the RM1.23 level.

PWF has formed a hammer candle and subsequently rebounded off the EMA9 level. The MACD Histogram has turned green, but the RSI remains in the oversold position. Monitor for a short-term trendline breakout above the RM1.11 level, targeting the RM1.22-RM1.30 levels. Support will be pegged around the RM1.05 level.

EUPE has experienced a consolidation breakout above the RM1.10 level with improved volumes. The MACD Line has risen above the zero level, but the RSI is slightly overbought. Price may rally, targeting the RM1.22-RM1.24 levels after a mild consolidation. Support will be set around the RM1.03 level.

Source: Mplus Research - 2 Oct 2017