The FBM KLCI extended its gains yesterday to close marginally higher above the 1,680 level resistance before closing at 1,680.69 pts. The MACD Line has expanded positively above the zero level. The RSI, however, is approaching the over overbought level. The next resistance will be pegged around the 1,700- 1,730 levels. Support will be anchored around the 1,650 level

BENALEC has formed a breakout-pullback-continuation pattern to close above the EMA9 level with improved volumes. The MACD Histogram has turned green, while the RSI is approaching 50. Price could trend towards the RM0.45 and RM0.49 levels. Support will be set around the RM0.395 level.

After finding support above the EMA60 level, FAJAR has risen above the EMA9 level with some improved volumes. The MACD Indicator has issued a BUY signal, while the RSI continues to trend above 50. Monitor for a breakout above the RM0.585 resistance level to target the RM0.625-RM0.67 levels. Support will be anchored around the RM0.555 level.

ASTRO has formed a trendline breakout-pullback-continuation pattern on the EMA20 level. The MACD Histogram has turned green, while the RSI continues to trend above 50. Monitor for the next breakout above RM2.79 to target the RM2.95-RM3.01 levels. Support will be pegged around the RM2.60 level.

Source: Mplus Research - 25 Jan 2017