The eleventh hour selling activities on selected index heavyweights sent the FBM KLCI lower as the key index closed at around the 1,601.00 level yesterday. The MACD Histogram, however, has extended another green bar, while the RSI has risen above 50. Resistances will be pegged around the 1,610-1,620 levels. Support will be set around the 1,590 level.

POS has formed a bullish candle to close above the EMA60 level with improved volumes. The MACD Histogram has extended another green bar, while the RSI has risen above 50. Price may trend higher, targeting the RM1.86-RM1.96 levels. Support will be pegged around the RM1.54 level.

MI has experienced a pennant formation breakout above the RM1.98 level with improved volumes. The MACD Histogram has turned green, but the RSI is overbought. Monitor for a breakout above the RM0.62 level, targeting the RM0.685-RM0.73 levels. Support will be pegged around the RM0.56 level.

TOPGLOV has experienced a resistance breakout above the RM4.75 level. The MACD Histogram has turned green, but the RSI is overbought. Price targets are envisaged at around the RM5.00-RM5.14 levels. Support will be anchored around the RM4.60 level.

Source: Mplus Research - 13 Sept 2019