Despite recovering most of its intraday losses, the FBM KLCI recorded its sixth straight session of decline as the key index closed at around the 1,686.59 level yesterday. The MACD Histogram has extended another red bar, while the RSI remains oversold. Resistance will be pegged around the 1,700- 1,710 levels. Support will be set around the 1,660 level.

SERBADK has rebounded, forming a hammer candle to close above the EMA60 level with rising volumes. The MACD Histogram has extended another red bar, while the RSI remains below 50. Monitor for a breakout above the RM4.00 level, targeting the RM4.28 and RM4.50 levels. Support will be set around the RM3.71 level.
 

REACH has formed a bullish engulfing candle above the EMA60 level with improved volumes. The MACD Histogram has turned green, but the RSI remains below 50. Price may advance, targeting the RM0.46- RM0.48 levels. Support will be anchored around the RM0.37 level.

SEM has formed a bullish engulfing candle above the EMA9 level with rising volumes. The MACD Histogram has turned green, while the RSI has recovered from oversold. Price may trend higher, targeting the RM1.51-RM1.57 levels. Support will be pegged around the RM1.35 level.

Source: Mplus Research - 26 Oct 2018