The FBM KLCI has surged towards the immediate resistance zone of the 1,740-1,770 levels recently, but mild profit taking activities started to emerge. The MACD Line, however, has crossed above the Signal Line, while the RSI is approaching 50. Support will be pegged around the 1,670-1,680 levels.

TROP has rebounded off the long term support level of RM0.945, forming a hammer candle last week. Follow-through buying interest was noted above the RM1.00 level. As the weekly MACD Histogram has turned green and the weekly RSI crossed above 30, price may rebound towards the RM1.16 and RM1.37 levels.

TEKSENG has experienced a consolidation breakout above the RM0.76 level last week. The MACD Line has crossed above zero, but the RSI is overbought. Monitor for a breakout above the RM0.885 level, targeting the RM1.00 and RM1.20 levels. Support will be located around the RM0.665 level.

EG has experienced a breakout above the RM0.625 level with improved volumes. The weekly MACD Histogram has turned green, while the weekly RSI has hooked above 30. Price is likely to rally towards the RM0.77 and RM0.94 levels after a short consolidation. Support will be pegged around the RM0.485 level.

Source: M+ Online Research - 24 Dec 2014