The FBM KLCI advanced in tandem with the positive sentiment across regional peers as the key index closed higher at around the 1,679.42 pts yesterday. The MACD Histogram has extended another red 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.

UCHITEC has formed a bullish candle to close above the EMA9 level with rising volumes The MACD Indicator has issued a BUY Signal, while the RSI has recovered from oversold. Monitor for a breakout above RM2.50, targeting the RM2.70 and RM2.82 levels. Support will be set around the RM2.36 level.

KPS has experienced a flag formation breakout above the RM1.31 level with improved volumes. The MACD Indicator has expanded positively above zero, while the RSI remains above 50. Price may rally towards the RM1.42-RM1.47 levels. Support will be anchored around the RM1.25 level.

BAHVEST has experienced a breakout above the RM0.41 level with high volumes. The MACD Histogram has extended another green bar, while the RSI remains above 50. Price may trend higher, targeting the RM0.46-RM0.485 levels after a minor pullback. Support will be pegged around the RM0.375 level.

Source: Mplus Research - 16 Jan 2019