Bargain hunting activities were short-lived as the FBM KLCI retreated after traded mostly in the negative territory, closing at 1,736.80 pts yesterday. The MACD Histogram has extended another green bar, while the RSI remains oversold. Resistance will be pegged around the 1,750-1,760 levels. Support will be set around the 1,730 level.

LIONIND has formed a bullish engulfing candle to close above the EMA20 level. The MACD Histogram has turned green, while the RSI remains above 50. Monitor for a symmetrical triangle formation breakout above the RM1.38 level, targeting the RM1.48-RM1.60 levels Support will be set around the RM1.31 level.

XINHWA has closed above the EMA120 level with rising volumes. The MACD Histogram has turned green, while the RSI remains above 50. Monitor for a breakout above the RM1.15 level, targeting the RM1.23-RM1.31 levels. Support will be anchored around the RM1.09 level.

SAMCHEM has experienced a breakout-pullback-continuation pattern above the EMA20 level with improved volumes. The MACD Histogram has turned green, while the RSI remains above 50. Price may trend higher, targeting the RM1.01 and RM1.06 levels. Support will be pegged around the RM0.945 level.

Source: Mplus Research - 27 Oct 2017