Following the renewed volatility in crude oil prices, the FBM KLCI erased all its previous session’s gains, closing at around 1,759.09 pts yesterday. The MACD Histogram has extended another green bar, 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.

MUHIBAH has rebounded off the EMA120 level accompanied by improved volumes. The MACD Histogram has extended another green bar, but the RSI is below 50. Monitor for a trendline breakout above RM2.79, targeting the RM2.90-RM2.97 levels. Support will be anchored around the RM2.72 level.

FPI has experienced a consolidation breakout above the RM1.29 level with improved volumes. The MACD Indicator has issued a BUY Signal, while the RSI remains above 50. Price may rally, targeting the RM1.35-RM1.40 levels. Support will be pegged around the RM1.23 level.

After the recent retracement, COMFORT has rebounded off the EMA60 level. The MACD Histogram has turned green, while the RSI is approaching 50. Monitor for a trendline breakout above the RM0.93 level, targeting the RM0.985-RM1.01 levels. Support will be set around the RM0.90 level.

Source: Mplus Research - 6 Oct 2017