The FBM KLCI rebounded in tandem with gains across global equities as the key index closed higher to around the 1,713.87 level last Friday. The MACD Indicator has issued a BUY Signal, but the RSI remains below 50. Resistance will be pegged around the 1,730-1,740 levels. Support will be set around the 1,700 level.

MRCB has experienced a short-term breakout above the RM0.74 level with improved volumes. The MACD Indicator has issued a BUY Signal, while the RSI remains above 50. Price may trend higher, targeting the RM0.81 and RM0.88 levels. Support will be set around the RM0.69 level.

CCK has formed a bullish candle to close above the EMA120 level with improved volumes. The MACD Histogram has extended another green bar, while the RSI remains above 50. Price may advance, targeting the RM0.93-RM1.01 levels. Support will be anchored around the RM0.71 level.

SUNCON has extended its gains to close above the EMA20 level. The MACD Histogram has extended another green bar, but the RSI is overbought. Price may stage further recovery, targeting the RM1.69- RM1.83 levels. Support will be pegged around the RM1.42 level.

Source: Mplus Research - 5 Nov 2018