Once again, the FBM KLCI recouped its previous session’s losses and ended above the 1,800 level. The MACD Indicator has expanded positively above zero, but the RSI remains overbought. Therefore, the FBM KLCI’s upside could be limited to around the 1,820 level. Support will be located around the 1,750-1,770 levels.

EG has trended sideways between the RM0.565-RM0.62 levels over the past two weeks. The MACD Histogram has extended another green bar, while the RSI is hovering above 50. Monitor for a breakout above the RM0.62 level, targeting the RM0.58 and RM0.775 levels. Support will be set around the RM0.565 level.

AAX has ended above the EMA60 level after two months of correction to the recent low of RM0.61. The MACD Histogram has turned green, while the RSI is above 50. Monitor for a breakout above the RM0.695 level, targeting the RM0.725 and RM0.83 levels. Support will be pegged around the RM0.665 level.

OPENSYS has experienced a breakout above the RM0.345 level, accompanied by high volumes. The MACD Histogram has turned green, but the RSI is overbought. Price may rally towards the RM0.415-RM0.475 levels after a short pullback. Support will be located around the RM0.32 level.

Source: M+ Online Research - 28 Jan 2015