The selling pressure remains unabated on the FBM KLCI as the key index retreated for the third straight session, closing at 1,733.61 pts yesterday. The MACD Histogram has extended another red bar, while the RSI tripped below 50. Resistance will be pegged around the 1,750-1,760 levels. Support will be set around the 1,730 level.

COCOLND has formed a hammer candle to close above the EMA20 level with improved volumes. The MACD Histogram has turned green, while the RSI is approaching 50. Monitor for a breakout above RM2.84, targeting the RM2.98-RM3.03 levels. Support will be set around the RM2.72 level.

DENKO has formed a bullish engulfing candle to close above the EMA9 level accompanied by slightly improved volumes. The MACD Histogram has extended another green bar, but the RSI is oversold. Monitor for a breakout above RM1.37, targeting the RM1.44-RM1.51 levels. Support will be anchored around the RM1.33 level.

TRIPLC has experienced a breakout-pullback-continuous pattern above the RM2.17 level accompanied by improved volumes. The MACD Histogram has extended another green bar, while the RSI has risen above 50. Price may trend higher, targeting the RM2.34 and RM2.41 levels. Support will be pegged around the RM2.09 level.

Source: Mplus Research - 15 Nov 2017