With the FBM KLCI failing to hold above the 1,750 level, further selling pressure sent the key index lower, closing at the 1,743.99 pts yesterday. The MACD Histogram has extended another red bar, while the RSI remains below 50. Resistance will be pegged around the 1,760-1,770 levels. Support will be set around the 1,730 level.

The uptrend intact formation was established in BAUTO after its price rebounded off the EMA20 level. The MACD Histogram has extended another green bar, while the RSI remains above 50. Monitor for a symmetrical triangle formation breakout above the RM2.10 level, targeting the RM2.15-RM2.20 levels Support will be set around the RM2.06 level.

GUNUNG has formed a bullish engulfing candle to close above the EMA60 level with higher-thanaverage volumes. The MACD Indicator has issued a BUY signal, while the RSI has risen above 50. Monitor for a short-term consolidation breakout above the RM0.425 level, targeting the RM0.475- RM0.495 levels. Support will be anchored around the RM0.395 level.

PRTASCO has experienced a breakout above the RM1.10 level with improved volumes. The MACD Indicator has issued a BUY signal, while the RSI remains above 50. Price target will be envisaged around the RM1.18 and RM1.23 levels. Support will be pegged around the RM1.04 level.

Source: Mplus Research - 20 Oct 2017