The FBM KLCI managed to trim most of its intraday losses as the key index formed a hammer candle, closing at around the 1,732.14 level last Friday. 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.

BAHVEST has formed a bullish candle to breakout above the RM1.04 level with improved volumes. The MACD Histogram has extended another green bar, while the RSI is approaching 50. Price target will be envisaged around the RM1.18 and RM1.27 levels. Support will be set around the RM0.95 level.

LONBISC has experienced a trendline breakout above the RM0.55 level with improved volumes. The MACD Histogram has extended another green bar, while the RSI has risen above 50. Price may rally towards the RM0.585-RM0.61 levels after a short consolidation. Support will be anchored around the RM0.52 level.

VS have formed a bullish candle to close above the EMA20 level. The MACD Histogram has extended another green bar, but the RSI remains below 50. Monitor for a breakout above the RM1.67 level, targeting the RM1.80-RM1.95 levels. Support will be pegged around the RM1.52 level.

Source: Mplus Research - 22 Oct 2018