The FBM KLCI edged marginally higher yesterday after erasing most of its intraday gains before closing at 1,728.66 pts. The MACD Histogram has extended another green bar, while the RSI continues to trend above 50. Resistance will be pegged around the 1,730-1,750 levels. Support will be set around the 1,700 level.

EG has closed above the EMA20 level, forming a breakout-pullback-continuation pattern above the RM0.86 level with improved volumes. The MACD Line has risen above the zero level, while the RSI has rebounded above 30. Price may rally further, targeting the RM0.985-RM1.03 levels. Support will be set around the RM0.86 level.

After the recovery from the EMA20 level, CAB has gapped up and retested the RM1.73 resistance level. The MACD Histogram has extended another green bar, while the RSI has risen above 50. Monitor for a breakout above the RM1.73 level, targeting the RM1.80-RM1.87 levels. Support will be anchored around the RM1.65 level.

ECS has formed a breakout-pullback-continuation pattern above the EMA20 level with improved volumes. The MACD Histogram has turned green, while the RSI continues to remain above 50. Price may extend its gains, targeting the RM1.60-RM1.73 levels. Support will be anchored around the RM1.46 level.

Source: Mplus Research - 8 Mar 2017