The FBM KLCI gave up all its intraday gains, forming a bearish engulfing candle to close at the 1,821.60 level yesterday. The MACD Indicator has issued a SELL signal, while the RSI has slipped below the overbought level. Resistance will be pegged around the 1,830-1,850 levels. Support will be set around the 1,800 level.

IOIPG has experienced a breakout above the RM1.98 level accompanied by rising volumes. The MACD Indicator has expanded positively above zero, while the RSI is hovering marginally below the overbought level. Price target will be envisaged around the RM2.06 and RM2.17 levels. Support will be set around the RM1.90 level.

GFM has formed a breakout-pullback-continuation pattern above the EMA20 level. The MACD Histogram has extended another red bar, while the RSI remains above 50. Price may rally towards the RM0.625- levels. Support will be anchored around the RM0.53 level

YINSON has rebounded off the EMA20 level with mild volumes. The MACD Histogram has extended another green bar, while the RSI remain above 50. Monitor for a breakout above the RM4.16 level, targeting the RM4.40-RM4.50 levels. Support will be pegged around the RM3.97 level.

Source: Mplus Research - 19 Jan 2018