The FBM KLCI pulled back towards the EMA60 level amid the selloff in Tenaga and O&G heavyweights. The MACD Histogram is weakening, while the RSI has tripped below 70. The key index may consolidate sideways below the EMA9; further support will be pegged around the 1,750-1,770 levels.

THHEAVY rebounded off the EMA9 level with improved volumes after a pullback on Wednesday. The MACD Histogram has turned green, while the RSI is hovering above 50. Monitor for a breakout above RM0.425, targeting the RM0.50 level. Support will be located around the RM0.38 level.

TONGHER experienced a trendline breakout above the RM2.10 level. With the MACD Indicator expanding positively above zero and the RSI trending higher above 50, price may rally towards the target of the RM2.30-RM2.39 levels. Support will be pegged around the RM1.91 level.

HEXZA gapped-up above the resistance of the RM0.78 level with high volumes. The MACD Indicator has expanded positively above zero, while the RSI continues to trend higher above 50 – suggesting bullish momentum. Price target will be envisaged around the RM0.83-RM1.00 levels. Support is set around the RM0.76 level.

Source: M+ Online Research - 13 Feb 2015