Bargain hunting activities sent the FBM KLCI higher as the key index snapped a streak of five straight losing sessions, closing at 1,721.66 pts last Friday. The MACD Histogram has extended another red bar, while the RSI remains oversold. Resistance will be pegged around the 1,730-1,750 levels. Support will be set around the 1,700 level.

TOMYPAK has formed a breakout-pullback-continuation pattern to close above the EMA60 level accompanied by improved volumes. The MACD Histogram has turned green, but the RSI is below 50. Monitor for a breakout above RM1.00, targeting the RM1.05-RM1.08 levels. Support will be set around the RM0.97 level.

An uptrend intact formation was established on LBS as its price closed above the EMA20 level with high volumes. The MACD Histogram has turned green, while the RSI is above 50. Monitor for a consolidation breakout above RM2.02, targeting the RM2.12-RM2.20 levels. Support will be anchored around the RM1.93 level.

REACH has formed a bullish engulfing candle above the EMA20 level with improved volumes. The MACD Histogram has extended another red bar, while the RSI is above 50. Price may trend higher, targeting the RM0.51 and RM0.54 levels. Support will be pegged around the RM0.435 level.

Source: Mplus Research - 20 Nov 2017