The FBM KLCI managed to recover all its intraday losses, lifted by the eleventh hour buying support in selected index heavyweights as the key index closed higher to around the 1,597.41 level last Friday. The MACD Histogram has extended another red bar, but the RSI remains above 50. Resistance will be pegged around the 1,610-1,620 levels. Support will be set around the 1,580 level.

ELSOFT has formed a flag-formation breakout to close above the EMA120 level with improved volumes. The MACD Histogram has turned green, while the RSI remains above 50. Price may trend higher, targeting the RM0.98-RM1.01 levels. Support will be set around the RM0.88 level.

SUCESS has formed a bullish engulfing candle above the EMA9 level accompanied by rising volumes. The MACD Histogram has turned green, while the RSI treading slightly below overbought. Price targets are envisaged at around the RM1.05-RM1.12 levels. Support will be set around the RM0.95 level.

HUMEIND has rebounded off the EMA20 level with mildly improved volumes. The MACD Histogram has turned green, while the RSI remains above 50. Monitor for a breakout above the RM1.14 level, targeting the RM1.29-RM1.37 levels. Support will be located around the RM1.03 level.

Source: Mplus Research - 23 Sept 2019