The FBM KLCI snapped a three-day winning streak on quick profit taking activities as the key index closed at around the 1,556.23 level yesterday. The MACD Histogram has extended another green bar, but RSI remains below 50. Resistance will be pegged around the 1,570-1,580 levels. Support will be set around the 1,540 level.

GBGAQRS has formed a bullish candle to breakout above the RM1.33 resistance level with improved volumes. The MACD Histogram has turned green, but the RSI is slightly overbought. Price may advance, targeting the RM1.44-RM1.54 levels. Support will be pegged around the RM1.22 level.

DANCO has formed a bullish engulfing candle to re-test the EMA120 level on higher volumes. The MACD Line has risen above the zero level, but the RSI is slightly overbought. Monitor for a consolidation breakout above the RM0.53 level, targeting the RM0.61-RM0.665 levels. Support will be set around the RM0.485 level.

TEKSENG has formed a flag-formation breakout above the RM0.275 level. The MACD Histogram has turned green, while the RSI remains above 50. Price may trend higher, targeting the RM0.31-RM0.335 levels. Support will be located around the RM0.255 level.

Source: Mplus Research - 16 Oct 2019