The FBM KLCI remained under pressured alongside the global equities as the key index closed lower at around the 1,683.06 pts last Friday. The MACD Histogram has turned green, but the RSI remains oversold. Resistance will be pegged around the 1,700-1,710 levels. Support will be set around the 1,660 level.

TADMAX has formed a bullish engulfing candle to close above the EMA60 level with improved volumes. The MACD Indicator has issued a BUY Signal, while the RSI has risen above 50. Monitor for a breakout above the RM0.215 level, targeting the RM0.235 and RM0.25 levels. Support will be set around the RM0.195 level.

QL has rebounded off the EMA20 level with higher-than-average volumes. The MACD Histogram has turned green, while the RSI has risen above 50. Monitor for a breakout above the RM7.13 level, targeting the RM7.50 and RM7.80 levels. Support will be anchored around the RM6.73 level.

GPACKET has gapped-up to retest the EMA9 level on mild volumes. The MACD Indicator has issued a BUY Signal, while the RSI is re-testing 50. Monitor for a breakout above the RM0.38 level, targeting the RM0.42-RM0.445 levels. Support will be pegged around the RM0.355 level.

Source: Mplus Research - 29 Oct 2018