The FBM KLCI kicked off the year on a tepid manner as the key index halted a streak of three winning days to close at 1,782.70 pts yesterday. The MACD Histogram has turned red, while the RSI is overbought. Resistance will be pegged around the 1,800-1,830 levels. Support will be set around the 1,760 level.

JAKS has rebounded off the EMA20 level accompanied by improved volumes. The MACD Histogram has turned green, while the RSI is above 50. Monitor for a consolidation breakout above the RM1.53 level, targeting the RM1.65-RM1.79 levels. Support will be anchored around the RM1.45 level.

UEMS has experienced a trendline breakout to close above the RM1.09 level with improved volumes. The MACD Line has risen above the zero level, while the RSI is above 50. Price may trend higher, targeting the RM1.21-RM1.29 levels. Support will be set around the RM1.03 level.

KGB has experienced a symmetrical triangle breakout above the RM0.85 level with improved volumes. The MACD Histogram has turned green, while the RSI remains above 50. Price may rally, targeting the RM0.895-RM0.95 levels. Support will be set around the RM0.81 level.

Source: Mplus Research - 3 Jan 2018