Tracking the weakness on Wall Street overnight, the FBM KLCI gapped-down to close at around the 1,761.13 pts yesterday. The MACD Histogram has extended another green bar, while the RSI has recovered from the oversold position. Resistance will be pegged around the 1,770-1,790 levels. Support will be set around the 1,750 level.

IJACOBS has experienced a breakout above the RM0.425 level accompanied by high volumes. The MACD Histogram has turned green, while the RSI is hovering marginally below the overbought level. Price may rally, targeting the RM0.48 and RM0.555 levels, after a minor pullback. Support will be set around the RM0.375 level.

OCNCASH has experienced a breakout above the RM0.70 level to close above the EMA60 level with improved volumes. The MACD Indicator has issued a BUY Signal, while the RSI has risen above 50. Price may trend higher, targeting the RM0.79-RM0.86 levels. Support will be anchored around the RM0.66 level.

After the recent rally, CARIMIN has found support along the EMA9 level. The MACD Histogram has extended another red bar, while the RSI remains above 50. Monitor for a trendline breakout above the RM0.505 level, targeting the RM0.565-RM0.625 levels. Support will be pegged around the RM0.46 level.

Source: Mplus Research - 11 Oct 2017