The FBM KLCI rebounded above the 1,670 level before closing at around the 1,672.05 pts on buying support among selective index heavyweights in the final trading hour. The MACD Line has expanded positively above the zero level. The RSI, however, is approaching the over overbought level. Resistance will be pegged around the 1,680-1,700 levels. Support will be anchored around the 1,650 level.

CEPAT has formed a flag-formation breakout above the RM0.895 level with some improved volumes. The MACD Histogram has turned green, while the RSI has rose above 50. Price could trend towards the RM0.97 and RM1.05 levels. Support will be set around the RM0.85 level

After forming an uptrend intact formation, IBHD’s price has re-tested the RM0.615 resistance level with higher-than-average volumes. The MACD Histogram has expanded positively above the zero level, while the RSI continues to trend above 50. Monitor for a breakout above the RM0.615 resistance level to target the RM0.66-RM0.695 levels. Support will be anchored around the RM0.585 level.

SCICOM has formed a symmetrical triangle formation for approximately a year. The MACD Histogram has turned green, while the RSI has risen above 50. Monitor for a symmetrical triangle breakout above RM2.15 to target the RM2.32-RM2.45 levels. Support will be pegged around the RM2.06 level.

Source: Mplus Research - 11 Jan 2017