Tracking the positive developments on Wall Street overnight, the FBM KLCI finally staged a recovery to halt a ten straight session of decline, closing at around 1,759.67 pts yesterday. The MACD Histogram has turned green, but the RSI remains oversold. Resistance will be pegged around the 1,770-1,780 levels. Support will be set around the 1,750 level.

SSTEEL has rebounded off the EMA20 level accompanied by improved volumes. The MACD Histogram has turned green, while the RSI has risen above 50. Monitor for a trendline breakout above RM2.30, targeting the RM2.59-RM2.70 levels. Support will be anchored around the RM2.15 level.

WANGZNG has experienced a consolidation breakout above the RM1.48 level with high volumes. The MACD Histogram has turned green, but the RSI is slightly overbought. Price may rally, targeting the RM1.70-RM1.80 levels. Support will be pegged around the RM1.38 level.

CCK has formed a bullish engulfing candle to close above the EMA20 level with improved volumes. The MACD Indicator has issued a BUY Signal, while the RSI remains above 50. Monitor for a breakout above the RM0.99 level, targeting the RM1.08-RM1.14 levels. Support will be set around the RM0.93 level.

Source: Mplus Research - 4 Oct 2017