The FBM KLCI remained in the red for the fifth straight session after hovering mostly in the negative territory as the key index closed at around the 1,774.17 pts yesterday. The MACD Histogram has extended another red bar, while the RSI remains below 50. Resistance will be pegged around the 1,800- 1,810 levels. Support will be set around the 1,760 level.

CHINWEL has formed a bullish candle to recover above the EMA20 level with improved volumes. The MACD Histogram has extended another red bar, while the RSI is remains above 50. Monitor for a breakout above the RM1.86 level, targeting the RM2.00 and RM2.10 levels. Support will be set around the RM1.79 level.

JAKS has formed a bullish engulfing candle yesterday, snapping a three-day losing streak. The MACD Histogram has extended another red bar, while the RSI is hovering at 50. Monitor for a short-term channel formation breakout above the RM0.995 level, targeting the RM1.08-RM1.15 levels after a short consolidation. Support will be anchored around the RM0.925 level.

CENSOF has formed a bullish engulfing candle to close above the EMA60 level with slightly improved volumes. The MACD Histogram has turned green, while the RSI remains above 50. Monitor for a breakout above the RM0.185 level, targeting the RM0.21-RM0.235 levels. Support will be pegged around the RM0.175 level.

Source: Mplus Research - 10 Oct 2018