Tracking the weakness on Wall Street overnight, the FBM KLCI staged a mild pullback as the key index closed at around the 1,593.34 level last Friday. The MACD Line has risen above the zero level, but the RSI is overbought. Resistances will be pegged around the 1,610-1,620 levels. Support will be set around the 1,580 level.

BAHVEST has experienced a short-term consolidation breakout above the RM0.53 level on high volumes. The MACD Histogram has turned green, while the RSI remains above 50. Price target will be envisaged around the RM0.595 and RM0.62 levels. Support will be set around the RM0.50 level.

MIECO has rebounded off the EMA9 level with improved volumes. The MACD Line has expanded positively above zero, while the RSI remains above 50. Monitor for a potential flag-formation breakout above the RM0.31 level, targeting the RM0.34-RM0.36 levels. Support will be anchored around the RM0.295 level.

PRESBHD has experienced a consolidation breakout above the RM0.51 level on high volumes. The MACD Histogram has turned green, while the RSI remains above 50. Price may trend higher, targeting the RM0.575-RM0.635 levels. Support will be pegged around the RM0.47 level.

Source: Mplus Research - 4 Nov 2019