The FBM KLCI trended higher above the EMA9 level on the back of window dressing activities. The MACD Indicator also trended positively above zero, while the RSI is staying positive above 50. The FBM KLCI could surpass the 1,700 level to trade towards the 1,730 level. Support will be set around 1,660.

KOMARK pulled back towards the EMA9 level after a strong rally two weeks ago. The MACD Histogram, however, extended another red bar. Nevertheless, the RSI is hovering above 50. Price is likely to trend higher towards the RM0.525-RM0.675 levels. Support will be pegged around the RM0.57 level.

TROP trended sideways over the past week below RM1.00 with improved volumes. The MACD Histogram has turned green, while the RSI has hooked above 50 – suggesting that the momentum is intact. Monitor for a breakout above the RM1.00 level, targeting the RM1.05 and RM1.15 levels. Support will be set around RM0.98.

BONIA rebounded off the EMA20 level with improved volumes after a short term retracement two weeks ago. The MACD Line is approaching the zero level, while the RSI has hooked above 50. Monitor for a breakout above the RM0.72 level, targeting the RM0.81 level. Support will be located around the RM0.685 level.

Source: M+ Online Research - 4 Jan 2016