The FBM KLCI trended sideways around the EMA9 level on Friday. The MACD Histogram extended another green bar, but the RSI is trending lower below 50. As both the indicators are suggesting mixed signals, the FBM KLCI’s gains might be capped around the 1,770 level. Support is around the 1,700 level.

EG has rebounded off the RM0.56 level with high volumes. The MACD Histogram has turned green. The RSI has hooked above 30 – suggesting that the momentum could be picking up. Price may rally towards the RM0.70 and RM0.775 levels. Support will be pegged around the RM0.56 level.

CAB has been trended gradually upwards within a long term ascending triangle. The MACD Indicator has expanded positively above zero, but the RSI is slightly overbought. Monitor for a breakout above the RM1.17 level, targeting the RM1.47 level. Support will be located around the RM1.05 level.

BENALEC has experienced a sideways consolidation breakout above the RM0.65 level last Thursday, accompanied by higher-than-average volumes. The MACD Line is approaching zero, while the RSI is hovering above 50. Price target will be envisaged around the RM0.78 level. Support will be set around the RM0.61 level.

Source: M+ Online Research - 19 Jan 2015