The FBM KLCI extended its gains to re-capture the 1,700 psychological level as the key index closed at around the 1,701.43 level last Friday. The MACD Histogram has turned green, 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.

MI has experienced a breakout above the RM2.35 level with improved volumes. The MACD Histogram has turned green, while the RSI remains above 50. Price may trend higher, targeting the RM2.49 and RM2.64 levels. Support will be set around the RM2.22 level.

PIE has experienced a flag-formation breakout above the RM1.55 level with improved volumes. The MACD Histogram has turned green, but the RSI is overbought. Price may advance, targeting the RM1.65- RM1.77 levels. Support will be anchored around the RM1.46 level.

BAUTO has rebounded off the EMA20 with improved volumes. The MACD Histogram has turned green, while the RSI is approaching 50. Monitor for a breakout above RM2.25, targeting the RM2.40-RM2.47 levels. Support will be pegged around the RM2.14 level.

Source: Mplus Research - 28 Jan 2019