After rising above the 1,630 resistance level, FBM KLCI extended its gains yesterday to close at 1,636.12 pts, lifted by window dressing activities amongst selective index heavyweights. The MACD Indicator has given a Buy signal, while the RSI continues to trend above 50. Resistances will be pegged around the 1,650-1,670 levels. Support will be set around the 1,630 level.

TITIJYA has rebounded off the EMA120 level and formed a bullish engulfing candle with high volumes. The MACD Histogram has extended another green bar, while the RSI rose above 50. Monitor for a consolidation breakout above RM1.75 level to target around the RM1.90 and RM2.00 levels. Support is pegged at the RM1.65 level.

SUNCON has formed a flag-formation breakout above the EMA60 level with slightly improved volumes. The MACD Histogram has turned green, while the RSI is hovering above 50. Monitor for a breakout above RM1.72 level to target around the RM1.80 and RM1.90 levels. Support will be set around the RM1.65 level.

MTDACPI has gapped up and formed a short-term consolidation breakout above the RM0.325 resistance level with improved volumes. The MACD Histogram has extended another green bar, while the RSI is approaching the overbought level. Price could stage a mild pullback before targeting the RM0.37 and RM0.41 levels. Support is anchored around the RM0.305 level.

Source: Mplus Online Research - 30 Dec 2016