Following the U.S. Federal Reserve’s move to keep interest rates unchanged, the FBM KLCI staged a mild recovery to rebound above the EMA20 level before closing at 1,673.48 pts yesterday. The MACD Line has issued a Sell signal, while the RSI continues to hover marginally below 50. The immediate resistance will be pegged around the 1,700-1,730 levels. Support will be anchored at the 1,650 level.

CEPAT has formed a bullish engulfing candle after rebounding off the EMA20 level with improved volumes. The MACD Histogram extended another green bar, while the RSI is approaching 50. Monitor for a symmetrical triangle breakout above the RM0.93 level to target the RM1.00-RM1.05 levels. Support will be anchored around the RM0.895 level.

PRTASCO has formed a short-term channel formation breakout with improved volumes. The MACD Histogram has turned green, while the RSI has risen above 50. Price might consolidate over the shortterm before targeting the RM1.29-RM1.34 levels. Support will be pegged around the RM1.18 level.

COMPLET has gapped up and retested the RM0.70 resistance level. The MACD Indicator has expanded positively above the zero level, but the RSI is approaching the overbought level. Monitor for a breakout above the RM0.70 level to target the RM0.75 and RM0.80 levels. Support will be set around the RM0.66 level.

Source: Mplus Research - 3 Feb 2017