The FBM KLCI snapped a six-day losing streak and rebounded towards the EMA9 level. The MACD Line has turned flattish above the Signal Line. The RSI continues to trend higher above 50. The FBM KLCI may retest the 1,750-1,770 levels. Support will be pegged around the 1,700 level.

ESCERAM has formed a bullish candle above the EMA120 level accompanied by improved volumes. The MACD Histogram has turned green, while the RSI is hovering above 50. Monitor for a breakout above the RM0.21 level, targeting the RM0.275-RM0.29 levels. Support will be set around the RM0.145 level.

MEGB experienced a flag formation breakout above the RM0.72 level with significant improvement in volumes. The MACD Histogram has turned green, but the RSI is slightly overbought. Price may rally towards the RM0.855 and RM1.00 levels after a short consolidation. Support will be located around the RM0.57 level.

KTB experienced a flag pattern breakout above the RM0.35 level with high volumes. The MACD indicator expanded positively above zero. The RSI, however, is overbought. Price is likely to target the RM0.46-RM0.505 levels after a mild consolidation. Support is pegged around the RM0.315 level.

Source: M+ Online Research - 9 Jan 2015