Selling pressure on the FBM KLCI could be diminishing over the near term as it has formed a hammer candle – indicating that the bargain hunting activities has picked up. The MACD Histogram has turned green and the RSI is oversold. Support is set around the 1,720 level. Resistance is pegged around the 1,770 levels.

AAX has rebounded above the EMA20 level with improved volumes after consolidating over the past six trading days without significant volumes. The MACD Indicator is trending higher, while the RSI has crossed above 50. Price may rally towards the RM0.725 level. Support will be envisaged around the RM0.645 level.

MEDAINC has formed a hammer candle near the EMA20 level after the price pulled back from the recent high of the RM0.585 level. The MACD Histogram has extended another red bar. The RSI is hovering above 70. Price target is pegged around the RM0.585 level. Support is set around the RM0.53 level.

SOLID continues to surge towards an all-time-high of RM1.49. The MACD Indicator has issued a “Buy” signal, but the RSI is above the 70 level – indicating that the price may be overbought. Price may rally towards the RM1.60 level after a short consolidation. Support will be pegged around the RM1.43 level.

Source: M+ Online Research - 10 Dec 2014