The FBM KLCI trended sideways throughout yesterday’s session and ended slightly above the EMA20 level, the MACD Histogram extended another green bar. The RSI, however, has tripped below 50. The FBM KLCI’s upside could be capped around the 1,770-1,800 levels. Support will be set around the 1,700 level.

WELLCAL has experienced a trendline breakout above the RM1.65 level with improved volumes. The MACD indicator has expanded positively above the zero level. The RSI, however, is overbought. Monitor for a breakout above the RM1.70 level, targeting the RM2.00 level. Support will be located around the RM1.48 level.

After a month’s sideways ranging phase, UZMA has surged above the EMA9 level with high volumes. The MACD Histogram has turned green, but the RSI is hovering below 50. Monitor for a breakout above the RM1.75 level, price target will be envisaged around the RM1.94 level. Support will be set around the RM1.60 level.

COASTAL-WA has gapped-up above the EMA20 level, accompanied by higher-than-average volumes. The MACD Histogram has turned green, but the RSI is slightly below 50. Monitor for a breakout above the RM0.70 level, targeting the RM0.775-RM0.90 levels. Support will be pegged around the RM0.61 level.

Source: M+ Online Research - 16 Jan 2015