Following the better-than-expected trade data, coupled with the positive sentiment on Wall Street overnight, the FBM KLCI formed a bullish engulfing candle above the 1,760 level before closing around 1,764.00 pts. The MACD Histogram has extended another green bar, but the RSI remains oversold. Resistance will be pegged around the 1,770-1,790 levels. Support will be set around the 1,750 level.

BONIA has experienced a breakout-pullback-continuation pattern above the EMA60 level with improved volumes. The MACD Histogram has extended another green bar, while the RSI is hovering above 50. Monitor for a breakout above the RM0.685 level, targeting the RM0.71 and RM0.74 levels. Support will be set around the RM0.645 level.

BSLCORP continues to edge higher after finding support above the EMA60 level with rising volumes. The MACD Indicator has issued a BUY Signal, while the RSI is above 50. Monitor for a symmetrical triangle formation breakout above the RM0.57 level, targeting the RM0.64-RM0.675 levels. Support will be anchored around the RM0.53 level.

IRIS has gapped-up to close above the EMA20 level with mild volumes. The MACD Indicator has issued a BUY Signal, while the RSI has risen above 50. Monitor for a breakout above the RM0.185 level, targeting the RM0.205-RM0.22 levels. Support will be pegged around the RM0.17 level.

Source: Mplus Research - 9 Oct 2017