The FBM KLCI rebounded and surpassed the 1,660 level on the back of spillover effects from the positive overnight performance on U.S. stockmarkets. The MACD Indicator has issued a “Buy” signal, while the RSI is approaching 50. The FBM KLCI may rally towards the 1,695 level. Support will be set around 1,630.

OCNCASH experienced a flag breakout above the RM0.44 level with improved volumes. The MACD Indicator expanded positively above zero, while the RSI is trending higher above 50. Price may rally towards the RM0.47 and RM0.50 levels. Support will be pegged around the RM0.425 level.

FFHB experienced a flag formation breakout above the RM0.76 level with higher-than-average volumes. The MACD Histogram has turned green. The RSI is hovering above 50. Price could rally towards the RM0.90-RM1.00 levels over the near term. Support will be anchored around the RM0.74 level.

WCT experienced a strong Inverted Head and Shoulders breakout above the RM1.52 level with high volumes. The MACD Indicator has issued a “Buy” signal, but the RSI is overbought. The Inverted Head and Shoulders’ target will be envisaged around RM1.92-RM2.00. Support will be located around the RM1.52 level.

Source: M+ Online Research - 28 Dec 2015