The FBM KLCI formed a shooting star candle as the key index closed lower at around the 1,690.58 level on New Year’s Eve. The MACD Histogram has extended another green bar, while the RSI remains above 50. Resistance will be pegged around the 1,710-1,730 levels. Support will be set around the 1,670 level.

ELSOFT has experienced a trendline breakout above the RM1.05 level with improved volumes. The MACD Histogram has extended another green bar, while the RSI is approaching 50. Price may advance, targeting the RM1.13 and RM1.21 levels. Support will be set around the RM1.00 level.

UCREST has advanced to close above the EMA20 level. The MACD Histogram has extended another green bar, while the RSI has risen above 50. Monitor for a trendline breakout above RM0.27, targeting the RM0.30-RM0.315 levels. Support will be anchored around the RM0.25 level.

EDGENTA has experienced a symmetrical triangle formation breakout above the RM2.70 level with improved volumes. The MACD Histogram has extended another green bar, while the RSI has risen above 50. Price may trend higher, targeting the RM2.88-RM3.00 levels. Support will be pegged around the RM2.54 level.

Source: Mplus Research - 2 Jan 2019