The FBM KLCI is hovering above the EMA20 level. The MACD Histogram continues to extend another green bar, while the RSI trended slightly higher above 50. If the FBM KLCI crosses above 1,770 level, the next resistance will be pegged around the 1,800 level. Support will be located around the 1,730 level.

HOMERIZ has experienced a sideway consolidation breakout above the RM0.83 level with improved volumes. The MACD indicator expanded positively above zero, while the RSI is hovering above 50. Price target will be envisaged around the RM0.905-RM0.955 levels. Support will be set around the RM0.805 level.

AZRB has rebounded off the EMA9 level with improved volumes. The MACD Histogram, however extended another red bar. Nevertheless, the RSI is trending higher above 50. Monitor for a breakout above the RM0.68 level, targeting the RM0.745-RM0.775 levels. Support will be pegged around the RM0.665 level.

GKENT could be supported around the RM1.16 level as traded volumes picked up, forming a hammer candle. The MACD Line, however is hovering below zero. Nevertheless, the RSI is above 50. Monitor for a breakout above the RM1.24 level. Price target will be located around the RM1.32 and RM1.56 levels.

Source: M+ Online Research - 31 Dec 2014