The FBM KLCI erased all its intraday gains to form a bearish engulfing candle as the key index trended lower for the fourth straight session to close at around the 1,683.53 level last Thursday. The MACD Histogram has extended another red bar, while the RSI remains above 50. Resistance will be pegged around the 1,700-1,710 levels. Support will be set around the 1,670 level.

AEON has experienced a breakout above the RM1.52 accompanied by high volumes. The MACD Histogram has extended another green bar, while the RSI remains above 50. Price may advance, targeting the RM1.60 and RM1.65 levels. Support will be set around the RM1.46 level.

BAUTO has formed a bullish harami candle to close above the EMA20 level with improved volumes. The MACD Histogram has turned green, while the RSI has risen above 50. Monitor for a breakout above RM2.25, targeting the RM2.40-RM2.47 levels. Support will be anchored around the RM2.13 level.

IJM has experienced a flag-formation breakout above the RM1.81 level with improved volumes. The MACD Histogram has turned green, while the RSI remains above 50. Price may trend higher, targeting the RM1.95-RM2.07 levels. Support will be pegged around the RM1.70 level.

Source: Mplus Research - 4 Feb 2019