The FBM KLCI has pulled back below 1,800 after retesting the EMA120 level. The MACD Histogram has extended another red bar, while the RSI has tripped below 70. If the FBM KLCI violates below the 1,770 level, support will be pegged around the 1,720 level. Meanwhile, the resistance will be set around the 1,840 level.

IRIS has trended mildly upwards to the RM0.34 level with high volumes. The MACD Histogram has turned green, while the RSI is hovering above 50. Monitor for a breakout above the RM0.34 level, targeting the RM0.44-RM0.43 levels. Support will be located around the RM0.29 level.

KTB has experienced a breakout above the RM0.36 level with high volumes. The MACD Indicator has issued a “Buy” signal, but the RSI is slightly overbought. Price may rally towards the RM0.45 and RM0.53 levels after a mild pullback. Support will be located around the RM0.315 level.

LCTH experienced a flag formation breakout above the RM0.29 level, accompanied by higher-than-average volumes. The MACD Histogram has turned green. The RSI, however, is overbought. Price target will be envisaged around the RM0.33-RM0.35 levels. Support will be set around the RM0.275 level.

Source: M+ Online Research - 30 Jan 2015