Tracking the weakness on Wall Street overnight, the FBM KLCI retreated but managed to trim most of its intraday losses before closing marginally lower at 1,747.92 pts yesterday. The MACD Indicator has issued a BUY Signal, but the RSI remains below 50. Resistance will be pegged around the 1,750-1,760 levels. Support will be set around the 1,730 level.

MMSV has experienced a trendline breakout above the RM1.83 level with improved volumes. The MACD Histogram has extended another green bar, while the RSI has risen above 50. Price may rally, targeting the RM1.93-RM2.05 levels Support will be set around the RM1.77 level.

JOHOTIN has experienced a breakout-pullback-continuation pattern above the EMA20 level with improved volumes. The MACD Histogram has extended another green bar, while the RSI remains above 50. Monitor for a breakout above the RM1.40 level, targeting the RM1.49-RM1.62 levels Support will be anchored around the RM1.34 level.

SYSTECH has closed above the EMA20 level accompanied by improved volumes. The MACD Indicator has issued a BUY Signal, while the RSI is retesting 50. Monitor for a symmetrical triangle formation breakout above the RM0.415 level, targeting the RM0.45 and RM0.47 levels. Support will be pegged around the RM0.39 level.

Source: Mplus Research - 1 Nov 2017