The FBM KLCI trended lower last Friday amid profit taking activities across the board. The MACD Indicator, however, extended its positive momentum, while the RSI is hovering above 50. Resistance will be located around the 1,700 level. Support will be pegged around the 1,660 level.

BIG has experienced a short term breakout above the RM0.69 level with high volumes. The MACD Line is hovering above 50, while the RSI spiked-up above the 50 level. Price may rally towards the RM0.795 and RM0.90 levels. Support will be anchored around the RM0.65 level.

KPSCB surged above the RM0.55 level with improved volumes; suggesting that the buying interest is picking up. The MACD Indicator has flashed a “Buy” signal, while the RSI is trending positively above 50. Price target will be envisaged around the RM0.61 and RM0.67 levels. Support will be set around RM0.515.

DELEUM experienced a strong breakout above the RM1.02 level in tandem with the recovery in crude oil prices. The MACD Line has surpassed the zero level. The RSI, however, is overbought. Price may rally towards the RM1.25-RM1.27 levels after a short consolidation. Support will be pegged around the RM0.99 level.

Source: M+ Online Research - 22 Feb 2016