After reaching a bottom of 1,670, the FBM KLCI continues to rebound on the back of the window dressing activities. The MACD Histogram extended another green bar, while the RSI has crossed above 50. Resistance will be located around the 1,770-1,800 levels. Support is set around the 1,720 level.

SUNZEN has experienced a breakout above the RM0.39 level with improved volumes. The MACD Line is trending higher above zero, while the RSI has hooked above 50. With the momentum picking up, price may rally towards the RM0.475, RM0.57 and RM0.625 levels. Support will be pegged around the RM0.32 level.

POHUAT retested the immediate resistance of the RM1.41 level with high volumes. The weekly MACD Line is above zero. The RSI has surged above the 50 level. Both indicators are suggesting that the price may breach above the RM1.41 level, targeting the RM1.61-RM1.81 levels. Support will be set around the RM1.21 level.

JFTECH has experienced a consolidation breakout above the RM0.58 level with improved volumes. The MACD indicator has issued a “Buy” signal and the RSI is spiking upwards. Price target will be envisaged around the RM0.735 and RM1.00 levels. Support will be located around the RM0.44 level.

Source: M+ Online Research - 29 Dec 2014