The eleventh hour buying support on selected index heavyweights lifted the FBM KLCI to close above the 1,700 psychological level with the key index closing at around the 1,702.12 level yesterday. The MACD Histogram has extended another green bar, while the RSI remains above 50. Resistance will be pegged around the 1,720-1,730 levels. Support will be set around the 1,680 level.

KGB has gapped-up, forming a symmetrical triangle formation breakout above the RM1.13 level with improved volumes. The MACD Histogram has turned green, while the RSI remains above 50. Price may trend higher, targeting the RM1.23 and RM1.28 levels. Support will be set around the RM1.07 level.

KPS has formed a bullish harami candle to close above the EMA60 level. The MACD Line has expanded positively above the zero level, while the RSI remains above 50. Monitor for a breakout above RM1.32, targeting the RM 1.41-RM1.47 levels. Support will be anchored around the RM1.27 level.

IOIPG has gapped-up to close above the EMA120 level with improved volumes. The MACD Histogram has extended another green bar, while the RSI has risen above 50. Monitor for a breakout above RM1.60, targeting the RM1.73-RM1.85 levels. Support will be pegged around the RM1.50 level.

Source: Mplus Research - 23 Jan 2019