After ending marginally higher above the 1,700 level on Monday, selling pressure returned and the FBM KLCI ended lower. The MACD Histogram has turned red, but the RSI is hovering above 50. The FBM KLCI’s upside is likely to be capped around 1,710. Meanwhile, the support will be set around the 1,660 level.

CWORKS has pulled back towards the EMA9 without significant volumes. The MACD Histogram, however, has turned green while the RSI has rebounded off the 50 level. Monitor for a breakout above the RM0.675 level, targeting the RM0.735 and RM0.80 levels. Support will be located around the RM0.65 level.

OCK has experienced a strong trendline breakout above the RM0.74 level with higher-than-average volumes. The MACD Line is trending positively above zero, while the RSI has hooked above 50. Price may rally towards the RM0.83-RM0.88 levels after a short consolidation. Support will be set around RM0.715.

AMPROP experienced a short term consolidation breakout above the RM0.895 level with improved volumes. The MACD Indicator has expanded positively above zero. The RSI, however, is overbought. Price could rally towards the RM0.96 and RM0.99 levels after a short consolidation. Support will be located around RM0.895.

Source: M+ Online Research - 16 Mar 2016