The FBM KLCI erased all its intraday gains as the key index closed lower to around the 1,558.79 level yesterday. 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.

GKENT has formed a bullish candle to close above the EMA20 level with mildly improved volumes. The MACD Indicator has issued a BUY Signal, while the RSI is re-testing 50. Monitor for a breakout above the RM1.05 level, targeting the RM1.15-RM1.22 levels. Support will be pegged around the RM0.995 level.

GBGAQRS has experienced a consolidation breakout above the RM1.27 level accompanied by rising volumes. The MACD Histogram has extended another green bar, while the RSI has risen above 50. Price may trend higher, targeting the RM1.39-RM1.49 levels. Support will be set around the RM1.20 level.

ZHULIAN has experienced a consolidation breakout above the RM1.61 level with improved volumes. The MACD Histogram has turned green, but the RSI is overbought. Price might stage a mild pullback, before targeting the RM1.68-RM1.75 levels. Support will be located around the RM1.54 level.

Source: Mplus Research - 9 Oct 2019