The FBM KLCI erased most of its previous session’s gains as the key index closed lower at around the 1,669.78 pts last Friday. The MACD Histogram has extended another green bar, while the RSI has tripped below 50. Resistance will be pegged around the 1,700-1,710 levels. Support will be set around the 1,650 level.

CCM has rebounded to close above the EMA60 with improved volumes. The MACD Line has risen above the zero level, while the RSI is hovering above 50. Monitor for a breakout above RM1.85, targeting the RM1.94 and RM2.02 levels. Support will be set around the RM1.75 level.

GFM has advanced to close above the EMA20 level with improved volumes. The MACD Histogram has extended another green bar, while the RSI remains above 50. Monitor for a breakout above RM0.45, targeting the RM0.485-RM0.51 levels. Support will be anchored around the RM0.42 level.

OPENSYS has gapped-up to close above the EMA20 level. The MACD Indicator has issued a BUY Signal, while the RSI has risen above 50. Price may advance, targeting the RM0.315-RM0.33 levels. Support will be pegged around the RM0.275 level.

Source: Mplus Research - 7 Jan 2019