The unabated selling activities sent the FBM KLCI lower for the third straight session as the key index closed at around the 1,557.67 level last Friday. The MACD Histogram has extended another red bar, while the RSI remains oversold. Resistance will be pegged around the 1,570-1,580 levels. Support will be set around the 1,540 level.

NOTION has formed a bullish candle to re-test the EMA20 level with high volumes. The MACD Histogram has turned green, while the RSI remains above 50. Monitor for a breakout above the RM0.54 level, targeting the RM0.58-RM0.615 levels. Support will be pegged around the RM0.505 level.

SCOMNET has formed a flag-formation breakout above the RM0.825 level with mildly improved volumes. The MACD Histogram has turned green, while the RSI has risen above 50. Price targets are envisaged at around the RM0.89-RM0.925 levels. Support will be set around the RM0.785 level.

SSTEEL has extended its gains to close above the EMA120 level with improved volumes. The MACD Histogram has extended another green bar, while the RSI is approaching 50. Monitor for a consolidation breakout above the RM1.00 level, targeting the RM1.08-RM1.13 levels. Support will be located around the RM0.92 level.

Source: Mplus Research - 7 Oct 2019