After chalking up a three consecutive-day winning streak, profit taking activities sent the FBM KLCI to close around the 1,664.89 pts last Friday. The MACD Histogram has extended another red bar, while the RSI is hovering above 50. Resistance will be pegged around the 1,680-1,700 levels. Support will be set around the 1,650 level.

KERJAYA has broken out above the short term resistance of the RM2.26 level with improved volumes. The MACD Histogram as turned green, but the RSI is overbought. Price target will be envisaged around the RM2.40 and RM2.53 levels. Support will be set around the RM2.18 level.

GUH has experienced a consolidation breakout above the RM0.845 level with increasing volumes. The MACD Histogram has extended another green bar, while the RSI continues to trend above 50. Price may rally towards the RM0.895-RM0.91 levels. Support will be anchored around the RM0.81 level.

REXIT has rebounded to close above the EMA120 level with mild volumes. The MACD Indicator has issued a BUY signal, while the RSI has risen above 50. Monitor for a breakout above the RM0.60 level, targeting the RM0.65-RM0.685 levels. Support will be pegged around the RM0.555 level.

Source: Mplus Research - 23 Jan 2017