The FBM KLCI surged above the EMA20 level, forming a white candle led by gains on CIMB and RHBCAP. The MACD Histogram trended higher, while the RSI is hovering above 50. The key index may rebound towards the 1,770-1,800 levels. Support will be pegged around the 1,700 level.

IRIS experienced a flag formation breakout with improved volumes after a short term pullback towards the EMA9 level. The MACD Line is hovering above zero. The RSI is hovering above 50. Price may rally towards the RM0.365 and RM0.43 levels. Support will be located around the RM0.29 level.

OLDTOWN has experienced a sideways consolidation breakout above the RM1.56 level with high volumes. The MACD Line is approaching zero. The RSI, however, is overbought. Price may rally towards the RM1.85-RM2.00 levels after a short consolidation. Support will be located around the RM1.45 level.

ESCERAM has rebounded off the RM0.17 level and its price could be retesting the RM0.21 level. The MACD Line is just mildly below zero, but the RSI is trending higher above 50. Monitor for a breakout above the RM0.21, targeting the RM0.275 and RM0.29 levels. Support will be set around the RM0.17 level.

Source: M+ Online Research - 14 Jan 2015