Tracking the positive performance across global stockmarkets, the FBM KLCI re-tested the 1,800 psychological level before closing at intraday high of 1,803.45 pts yesterday. The MACD Histogram has turned green, but the RSI is overbought. Resistance will be pegged around the 1,830-1,850 levels. Support will be set around the 1,770 level.

WCT has gapped up to close above the EMA60 level. The MACD Histogram has turned green, but the RSI is slightly overbought. Monitor for a breakout above the RM1.69 level, targeting the RM1.82-RM1.95 levels. Support will be anchored around the RM1.59 level.

After finding support above the EMA60 level, BAUTO has rebounded off the EMA9 level. The MACD Histogram has turned green, while the RSI has risen above 50. Monitor for an ascending triangle formation breakout above the RM2.20, targeting the RM2.30-RM2.35 levels. Support will be set around the RM2.11 level.

KPS has gapped up and subsequently closed above the EMA20 level accompanied by rising volumes. The MACD Histogram has extended another green bar, while the RSI has risen above 50. Monitor for a consolidation breakout above the RM1.35 level, targeting the RM1.43-RM1.53 levels. Support will be set around the RM1.28 level.

Source: Mplus Research - 5 Jan 2018