The FBM KLCI managed to recoup all its intraday losses after enduring a volatile trading session, closing higher at 1,720.68 pts yesterday. The MACD Histogram has turned green, while the RSI has recovered from the oversold position. Resistance will be pegged around the 1,730-1,750 levels. Support will be set around the 1,700 level.

SEM has experienced a symmetrical triangle formation breakout above the RM1.57 level accompanied by improved volumes. The MACD Indicator has issued a BUY Signal, while the RSI has risen above 50. Price may rally, targeting the RM1.63-RM1.75 levels. Support will be set around the RM1.50 level.

BKOON has formed a bullish engulfing candle with improved volumes. The MACD Indicator has issued a BUY Signal, but the RSI is slightly overbought. Monitor for a consolidation breakout above the RM0.54 level, targeting the RM0.565-RM0.58 levels. Support will be anchored around the RM0.52 level.

PWORTH has found some support above the EMA120 level as its price gapped-up to close above the EMA20 level with some improved volumes. The MACD Histogram has extended another green bar, while the RSI is re-testing 50. Monitor for a breakout above the RM0.245 level, targeting the RM0.265 and RM0.28 levels. Support will be pegged around the RM0.23 level.

Source: Mplus Research - 22 Nov 2017