Gains in banking heavyweights sent the FBM KLCI higher for the third straight session as the key index closed at around the 1,597.98 level yesterday. The MACD Histogram has extended another green bar, but the RSI is overbought. Resistance will be pegged around the 1,610-1,620 levels. Support will be set around the 1,580 level.

HUMEIND has experienced a trendline breakout above the RM1.06 level with mildly improved volumes. The MACD Indicator has issued a BUY Signal, while the RSI has risen above 50. Price targets are envisaged at around the RM1.48-RM1.52 levels. Support will be located around the RM1.02 level.

INTA has formed a bullish engulfing candle to close above the EMA60 level with improved volumes. The MACD Histogram has turned green, while the RSI has rebounded off 50. Price may trend higher, targeting the RM0.29-RM0.31 levels. Support will be located around the RM0.255 level.

BAUTO has experienced a short-term consolidation breakout above the RM2.26 level. The MACD Histogram has extended another green bar, while the RSI remains above 50. Price may advance, targeting the RM2.42-RM2.48 levels. Support will be located around the RM2.15 level.

Source: Mplus Research - 1 Nov 2019