Following the FBM KLCI’s sharp fall on Monday, the key index rebounded strongly on the back of bargain hunting activities. The MACD Histogram, however, is still red. Nevertheless, the RSI is above 50. The FBM KLCI may rebound higher towards the 1,695-1,700 levels. Support will be pegged around 1,660.

ASTINO trended sideways over the past two months between the RM0.635-RM0.66 levels. The MACD Indicator is hovering above zero. The RSI is hovering above the 50 level. Monitor for the breakout above the RM0.66 level, targeting the RM0.70-RM0.77 levels. Support will be located around the RM0.635 level.

KIALIM formed a breakout-pullback-continuation pattern above the RM0.71 level with high volumes. The MACD Line is pointing upwards, but the RSI is overbought. Price may rally towards the target of RM0.90 after a short consolidation. Support will be anchored around the RM0.71 level.

TAS continues to trend above the EMA9 level with improved volumes. The MACD Indicator has expanded positively above zero, while the RSI is staying positive above the 50 level. Price target will be envisaged around the RM0.83 and RM1.00 levels. Support will be located around the RM0.74 level.

Source: M+ Online Research - 6 Jan 2015