Despite lingering mostly in the positive territory, last minute profit taking on selective index heavyweights sent the FBM KLCI marginally lower as the key index closed at 1,740.93 pts last Friday. The MACD Histogram has extended another red bar, while 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.

LIONIND has experienced a symmetrical triangle formation breakout above the RM1.38 level with improved volumes. The MACD Histogram has extended another green bar, while the RSI is re-testing 50. Price may trend higher, targeting the RM1.48-RM1.56 levels. Support will be set around the RM1.31 level.

MESB has gapped-up to close above the EMA20 level with improved volumes. The MACD Histogram has turned green, but the RSI remains below 50. Monitor for a short-term consolidation breakout above the RM1.18 level, targeting the RM1.37-RM1.48 levels Support will be anchored around the RM1.10 level.

SUNCON has experienced a breakout above the RM2.33 level accompanied by improved volumes. The MACD Histogram has extended another green bar, while the RSI is above 50. Price may rally, targeting the RM2.43 and RM2.50 levels. Support will be pegged around the RM2.25 level.

Source: Mplus Research - 6 Nov 2017