The FBM KLCI retreated from the 1,770 level and ended near the EMA20 level. The MACD Histogram has extended another red bar, but the RSI has crossed above 50. The indicators suggest a mixed outlook for now and resistance will be located around the 1,770-1,800 levels. Support will be pegged around the 1,720 level.

AAX has experienced a breakout above the RM0.65 level with improved volumes, after forming a climatic volume last Monday. The MACD Histogram has turned green, while the RSI has hooked above 50. Price may rally towards the RM0.695 and RM0.725 levels. Support will be pegged around the RM0.61 level.

KNM rebounded near the EMA9 level with improved volumes. The MACD Histogram, however, is still weak. Nevertheless, the RSI is trending higher above 50. Monitor for a breakout above the RM0.525 level, targeting the RM0.63-RM0.69 levels. Support will be pegged around the RM0.47 level.

MMSV trended sideways over the past two weeks between the RM0.51-RM0.545 levels. The MACD Line, however, is still hovering below zero. Nevertheless, the RSI has hooked above 50. Monitor for a breakout above the RM0.545 level, targeting the RM0.605-RM0.68 levels. Support will be set around the RM0.51 level.

Source: M+ Online Research - 5 Jan 2015