The FBM KLCI rebounded yesterday after hovering mostly in the positive territory as the key index closed at an intraday high of 1,736.84 pts. The MACD Histogram has extended another green bar, while the RSI remains oversold. Resistance will be pegged around the 1,750-1,770 levels. Support will be set around the 1,710 level.

FPI has gapped-up to retest the EMA60 level with rising volumes. The MACD Histogram has turned green, but the RSI remains below 50. Monitor for a breakout above the RM1.46 level, targeting the RM1.56 and RM1.64 levels. Support will be set around the RM1.39 level.

SIGGAS has formed a bullish engulfing candle, rebounding off the EMA20 level. The MACD Histogram has turned green, while the RSI remains above 50. Monitor for a symmetrical triangle formation breakout above the RM0.90 level, targeting the RM0.97-RM1.00 levels. Support will be anchored around the RM0.835 level.

D&O has formed a bullish engulfing candle to close above the EMA9 level. The MACD Histogram has turned green, while the RSI remains above 50. Price may trend higher, targeting the RM0.96-RM1.00 levels. Support will be pegged around the RM0.845 level.

Source: Mplus Research - 17 Oct 2018