Profit taking activities sent the FBM KLCI to halt its fourth straight session of gains yesterday as the key index closed around the 1,826.95 pts. The MACD Histogram has turned red, while the RSI is overbought. Resistance will be pegged around the 1,830-1,850 levels. Support will be set around the 1,800 level.

IJACOBS has experienced a consolidation breakout above RM0.42 level with high volumes. The MACD Histogram has turned green, but the RSI is slightly overbought. Price might rally towards the RM0.47 and RM0.485 levels after a minor pullback. Support will be set around the RM0.40 level.

ECOWLD has formed a bullish engulfing candle to close above the EMA20 level with rising volumes. The MACD Histogram has extended another green bar, while the RSI is below 50. Monitor for a breakout above the RM1.44 level, targeting the RM1.50-RM1.57 levels. Support will be anchored around the RM1.39 level.

Source: Mplus Research - 10 Jan 2018