After enduring a choppy trading session, the eleventh hour buying support in selective index heavyweights sent the FBM KLCI to close at an intraday high of 1,853.92 pts last Friday. The MACD Histogram has extended another green bar, while the RSI remains above 50. Resistance will be pegged around the 1,870-1,890 levels. Support will be set around the 1,830 level.

FACBIND has broken out the RM1.53 resistance level accompanied by high volumes. The MACD Indicator has issued a BUY Signal, while the RSI has risen above 50. Price may rally, targeting the RM1.65 and RM1.70 levels after a mild consolidation. Support will be set around the RM1.45 level.

ECONBHD has rebounded off the EMA60 level accompanied by rising volume. The MACD Histogram has turned green, but the RSI has tripped below 50. Monitor for a breakout above the RM1.31 level, targeting the RM1.41-RM1.50 levels. Support will be anchored around the RM1.23 level.

N2N has gapped-up after finding support above the EMA20 level with improved volumes. The MACD Indicator has issued a BUY Signal, while the RSI remains above 50. Monitor for a breakout above the RM1.02 level, targeting the RM1.10-RM1.14 levels. Support will be pegged around the RM0.975 level.

Source: Mplus Research - 29 Jan 2018