The FBM KLCI rose above the 1,650 level resistance level yesterday before closing at around the 1,659.82 pts. The MACD Line has crossed above the zero level, while the RSI continues to trend above 50. The next resistance will be pegged around the 1,670-1,680 levels. Support will be anchored around the 1,630 level.

UNISEM has formed a bullish engulfing candle and a breakout above the RM 2.44 consolidation level. The MACD Histogram has extended another green bar, but the RSI is approaching the overbought level. Price could rally towards the RM2.67 and RM2.77 levels. Support will be set around the RM2.27 level.

MRCB has retested the RM1.41 resistance level with higher-than-average volumes. The MACD Indicator has given a BUY signal, while the RSI has crossed above 50. Monitor for a breakout above the RM1.41 resistance level to target the RM1.52-RM1.60 levels. Support will be anchored around the RM1.32 level.

SSTEEL has formed a bullish engulfing candle to close above the EMA9 level with high volumes. The MACD Histogram has turned green, while the RSI continues to trend above 50. Monitor for a breakout above the RM1.25 resistance level to target the RM1.34-RM1.43 levels. Support will be pegged around the RM1.19 level.

Source: Mplus Online Research - 6 Jan 2017