The FBM KLCI traded below the 1,660 support level as most oil and gas heavyweights were beaten down amid the weaker crude oil prices. The MACD Histogram extended another red bar, but the RSI is above 50. Resistance will be envisaged around 1,700. Support will be anchored around the 1,630 level.

MAA has experienced a resistance breakout two trading days ago and follow-through interest was noted yesterday above the RM0.96 level. The MACD Indicator has expanded positively above zero, but the RSI is overbought. Price may rally towards the RM1.00-RM1.10 levels. Support will be set around RM0.96.

EFFICEN experienced a flag formation breakout with higher-than-average volumes. The MACD Indicator expanded positively above zero, but the RSI is hovering above 70 (overbought). Price target will be located around RM0.335-RM0.345, followed by the RM0.365 levels. Support will be set around RM0.29.

EKIB formed a bullish engulfing bar after a flag formation breakout yesterday above the RM1.15 level with high volumes. The MACD Line is hovering above zero. The RSI, however, is overbought. Price may rally towards the RM1.30-RM1.40 after a mild consolidation. Support will be pegged around the RM1.09 level.

Source: M+ Online Research - 26 Feb 2016