The FBM KLCI extended its gains to close above the 1,670 level resistance level before closing at around the 1,675.49 pts as the key index recorded its third straight winning day. The MACD Line has expanded positively above the zero level. The RSI, however, is slightly overbought. The next resistance will be pegged around the 1,680-1,700 levels. Support will be anchored around the 1,000 level.

IKHMAS has risen above the EMA60 level and consequently broken out above the RM 0.60 consolidation level with higher-than-average volumes. The MACD Histogram has extended another green bar, but the RSI is approaching the overbought level. Price could rebound towards the RM0.685 and RM0.72 levels. Support will be set around the RM0.565 level.

HEXZA has formed a bullish engulfing candle to close above the EMA60 level with high volumes. The MACD Histogram has extended another green bar, while the RSI has crossed above 50. Monitor for a breakout above the RM0.94 resistance level to target the RM1.00-RM1.10 levels. Support will be anchored around the RM0.91 level.

WCT has formed a breakout-pullback-continuation pattern on the RM1.73 level with improved volumes. The MACD Indicator has given a BUY signal, while the RSI has trended above 50. Price may rally towards the RM1.98-RM2.08 levels after a short consolidation. Support will be pegged around the RM1.73 level.

Source: Mplus Online Research - 9 Jan 2017