The FBM KLCI is in a downward formation and ended the week on a lower note at 1,640.14 pts (-8.51 pts). The MACD Indicator expanded negatively below zero. The RSI is hovering below 50. The FBM KLCI may pullback further towards the 1,630 level. Meanwhile, the resistance will be set around 1,660.

ECOWLD has formed a Breakout-Pullback-Continuation pattern above the RM1.40 level with improved volumes. The MACD Histogram has turned green, while the RSI is trending higher above 50. Monitor for a breakout above the RM1.51 level, targeting the RM1.67-RM1.80 levels. Support will be located around RM1.40.

BRAHIMS experienced a breakout above the RM0.94 level, followed by a strong follow-through buying interest. The MACD Indicator has issued a “Buy” signal, while the RSI has surged above 50. Price may retest the previous high of the RM1.17 level after a mild pullback. Support will be located around the RM0.94 level.

BAHVEST has rebounded off the EMA20 level with mild volumes. The MACD Histogram has turned green, while the RSI has crossed above 50. Price may rally towards the RM1.31 and RM1.52 level over the near term. Meanwhile, the support will be anchored around the RM1.12 level.

Source: M+ Online Research - 14 Dec 2015