The FBM KLCI rebounded off the EMA60 level and ended above the EMA9 last Friday amid buying support among oil and gas heavyweights. However, both the MACD Line and the RSI are flattish. Resistance will be pegged around the 1,820-1,840 levels. Support will be set around the 1,750-1,770 levels.

MRCB experienced a short term trendline breakout above the RM1.38 level with high volumes. The MACD Histogram has turned green, while the RSI has hooked above 50. Monitor for a breakout above the RM1.41 level, targeting the RM1.57 level. Support will be located around the RM1.28 level.

After a two-week consolidation, ELSOFT ended above the EMA9 level with improved volumes after being supported above the RM1.55 level. The MACD Line is above zero, while the MACD Histogram has turned green. The RSI is hovering above 50 – suggesting that the positive momentum is intact.

TITIJYA trended sideways between the RM1.89-RM2.00 levels over the past three weeks. The MACD Line is above zero, but the RSI has tripped below 70. Monitor for a breakout above the RM2.00 level; price target will be envisaged around the RM2.23-RM2.37 levels. Support will be pegged around the RM1.89 level.

Source: M+ Online Research - 16 Feb 2015