After hovering largely in the positive territory, the FBM KLCI extended its gains above the EMA20 level before closing at intraday high of 1,685.01 pts last Friday. The MACD Histogram has turned green, while the RSI has risen above 50. The immediate resistance will be pegged around the 1,700-1,730 levels. Support will be anchored at the 1,650 level.

REXIT has formed a trendline breakout and consequently risen above the RM0.61 resistance level with improved volumes. The MACD Histogram extended another green bar, while the RSI continues to trend above 50. Price could trend towards the RM0.655 and RM0.685 levels. Support will be set around the RM0.585 level.

OKA has formed a breakout-pullback-continuation pattern above the RM1.23 level with improved volumes. The MACD Histogram has extended another green bar, while the RSI is retesting 50. Price might head towards the RM1.34-RM1.38 levels. Support will be pegged around the RM1.23 level.

HOMERIZ has formed a bullish engulfing candle to close above the EMA9 level with high volumes. The MACD Histogram has turned green, but the RSI is still hovering below 50. Price may rally towards the target of the RM1.04 and RM1.14 levels. Support will be set around the RM0.965 level.

Source: Mplus Research - 6 Feb 2017