Following the sharp rally in crude oil prices, coupled with the positive performance across key regional indices, the FBM KLCI extended its gains to close at 1,750.94 pts yesterday. The MACD Histogram has extended another green bar, while the RSI has risen above 50. Resistance will be pegged around the 1,760-1,770 levels. Support will be set around the 1,730 level.

GESHEN has experienced a breakout-pullback-continuation pattern above the EMA9 level with improved volumes. The MACD Histogram has turned green, while the RSI remains above 50. Price may trend higher, targeting the RM2.70-RM2.85 levels Support will be set around the RM2.50 level.

FFHB has closed above the EMA120 level with improved volumes. The MACD Histogram has turned green, while the RSI has risen above 50. Monitor for a short-term consolidation breakout above the RM0.695 level, targeting the RM0.76-RM0.795 levels Support will be anchored around the RM0.655 level.

D&O has rebounded off the EMA20 level accompanied by slightly improved volumes. The MACD Histogram has turned green, but the RSI is below 50. Monitor for a trendline breakout above the RM0.66 level, targeting the RM0.71 and RM0.735 levels. Support will be pegged around the RM0.625 level.

Source: Mplus Research - 8 Nov 2017