The FBM KLCI formed a bearish engulfing candle to close below the EMA20 level as the key index closed lower at around the 1,672.76 level yesterday. The MACD Histogram has extended another red bar, but the RSI remains above 50. Resistance will be pegged around the 1,700-1,710 levels. Support will be set around the 1,650 level.

GCB has extended its gains to close above the EMA20 level with high volumes. The MACD Indicator has issued a BUY Signal, while the RSI has risen above 50. Monitor for a trendline breakout above RM2.86, targeting the RM3.10 and RM3.25 levels. Support will be set around the RM2.64 level.

3A has gapped-up to close above the EMA60 level with rising volumes. The MACD Indicator has issued a BUY Signal, while the RSI has risen above 50. Monitor for a breakout above RM0.83, targeting the RM0.88 and RM0.91 levels Support will be anchored around the RM0.76 level.

SUPERLN has advanced to close above the EMA120 level with mildly improved volumes. The MACD Histogram has extended another green bar, while the RSI has risen above 50. Price may advance, targeting the RM1.30-RM1.44 levels. Support will be pegged around the RM1.15 level.

Source: Mplus Research - 9 Jan 2019