The FBM KLCI recovered all its previous session losses as the key index closed at around the 1,609.33 level yesterday. The MACD Indicator has expanded positively above the zero level, but the RSI is overbought. Resistance will be pegged around the 1,620-1,630 levels. Support will be set around the 1,600 level.

BINACOM has experienced a flag-formation breakout above the RM0.395 level on high volumes. The MACD Histogram has turned green, while the RSI remains above 50. Price target will be envisaged around the RM0.43 and RM0.46 levels. Support will be located around the RM0.355 level

HOHUP has rebounded off the EMA9 level accompanied by mildly improved volumes. The MACD Indicator expanded positively above zero. The RSI, however is overbought. Price may trend towards the RM0.58-RM0.605 levels. Support will be anchored around the RM0.53 level.

NAIM has experienced a short-term consolidation breakout above the RM1.01 level on improved volumes. The MACD Histogram has turned green, while the RSI remains above 50. Price may trend higher, targeting the RM1.10-RM1.17 levels. Support will be pegged around the RM0.95 level.

Source: Mplus Research - 8 Nov 2019