After retesting the EMA120 level, the FBM KLCI has ended below 1,800 level. The MACD Histogram extended another red bar, while the RSI has tripped below 70 – indicating that the short term momentum could be weakening. Resistance will be located around the 1,820-1,840 levels. Support will be set around the 1,770 level.

PENTA has experienced a breakout above the symmetrical triangle of the RM0.45 level with high volumes. The MACD Histogram has turned green, while the RSI is hovering above 50. Price target will be located around the RM0.60 level. Support will be pegged around the RM0.415 level.

HOVID has experienced a consolidation breakout above the RM0.39 level with high volumes. The MACD Histogram has spiked-up strongly above zero, but the RSI is overbought. Price may rally towards the target of the RM0.425-RM0.48 levels after a short consolidation. Support will be set around the RM0.37 level.

MAYBULK has formed a flag formation breakout above the RM1.35 level with high volumes after rebounding off the support of the RM1.27 level last Thursday. The MACD indicator has expanded positively above zero. The RSI, however, is overbought. Price target will be envisaged around the RM1.63 level.

Source: M+ Online Research - 4 Feb 2015