Despite opening higher at the start of the trading bell, quick profit taking saw the FBM KLCI erasing all its intraday gains before closing lower at 1,706.55 pts. The MACD Histogram has extended another red bar, while the RSI continues to trend above 50. The immediate resistance will be located around the 1,730-1,770 levels. Support will be located at the 1,700 level.

After rebounding off the EMA20 level, AIRASIA has broken out of the RM2.71 resistance level with improved volumes. The MACD Line has issued a BUY signal, but the RSI is slightly overbought. Price may trend towards the targets of the RM3.00 and RM3.30 levels. Support will be set around the RM2.57 level.

MASTEEL has gapped up and broken out above the RM0.885 consolidation level with high volumes. The MACD Indicator has issued a BUY signal, while the RSI continues to trend above 50. Price may rally further, targeting the RM0.975 and RM1.06 levels. Support will be anchored around the RM0.83 level.

OPENSYS has rebounded off the EMA20 level with higher-than-average volumes. The MACD Histogram has turned green, but the RSI is overbought. Monitor for a breakout above the RM0.385 consolidation level to target the RM0.42 and RM0.45 levels. Support will be pegged around the RM0.365 level.

Source: Mplus Research - 22 Feb 2017