The FBM KLCI succumbed to further selling pressure as the key index erased all its’ previous session’s gains to close around the 1,584.14 level yesterday. The MACD Histogram has turned red, while the RSI remains below 50. Resistance will be pegged around the 1,600-1,610 levels. Support will be set around the 1,570 level.

SALUTE has formed a bullish candle to rebound off the EMA20 level on high volumes. The MACD Histogram has turned green, while the RSI has risen above 50. Price targets are envisaged at around the RM0.70-RM0.78 levels. Support will be set around the RM0.575 level.

TOMYPAK has experienced a trendline breakout above the RM0.495 level with improved volumes. The MACD Histogram has turned green, while the RSI remains above 50. Price may trend higher, targeting the RM0.52-RM0.55 levels. Support will be set around the RM0.475 level.

GHLSYS has gapped-up to close above the EMA20 level. The MACD Histogram has turned green, while the RSI is approaching 50. Monitor for a short-term consolidation breakout above the RM1.37 level, targeting the RM1.45-RM1.55 levels. Support will be located around the RM1.32 level.

Source: Mplus Research - 30 Sept 2019