The FBM KLCI trended lower for the fifth straight session as the key index bucked the positive performance across key regional indices, closing at 1,718.11 pts yesterday. The MACD Histogram has extended another red bar, while the RSI is oversold. Resistance will be pegged around the 1,730-1,750 levels. Support will be set around the 1,700 level.

BONIA has formed a bullish engulfing candle to close above the EMA20 level with improved volumes. The MACD Histogram has turned green, while the RSI has recovered from the oversold position. Monitor for a short-term trendline breakout above RM0.635, targeting the RM0.69-RM0.715 levels. Support will be set around the RM0.60 level.

CRESBLD has rebounded to close above the EMA60 level accompanied by improved volumes. The MACD Histogram has turned green, while the RSI is approaching 50. Monitor for a consolidation breakout above RM1.08, targeting the RM1.14-RM1.22 levels. Support will be anchored around the RM1.01 level.

SUPERMX maintains its stance above the EMA120 level. The MACD Histogram has extended another green bar, while the RSI is above 50. Monitor for a breakout above the RM1.93 level, targeting the RM2.06 and RM2.15 levels. Support will be pegged around the RM1.83 level.

Source: Mplus Research - 17 Nov 2017