The FBM KLCI recovered all its previous session losses, lifted by the rally in banking heavyweights as the key index closed at 1,845.86 pts yesterday. The MACD Histogram has turned green, while the RSI remains above 50. Resistance will be pegged around the 1,850-1,870 levels. Support will be set around the 1,820 level.

DSONIC has gapped up and broken out the RM1.22 resistance level accompanied by rising volumes. The MACD Histogram has turned green, while the RSI has risen above 50. Price target will be envisaged around the RM1.30 and RM1.38 levels. Support will be set around the RM1.16 level.

MBSB has rebounded off the EMA9 level. The MACD Histogram has turned green, while the RSI remains above 50. Monitor for a breakout above the RM1.26 level, targeting the RM1.35-RM1.38 levels. Support will be anchored around the RM1.19 level.

WELLCAL has experienced a trendline breakout above the RM1.47 level. The MACD Indicator has issued a BUY Signal, while the RSI has risen above 50. Price may trend higher, targeting the RM1.60-RM1.66 levels. Support will be pegged around the RM1.41 level.

Source: Mplus Research - 26 Jan 2018