The FBM KLCI edged higher, retesting the EMA20 level as the key index closed at around the 1,576.95 level yesterday. The MACD Indicator has issued a BUY Signal, while the RSI is approaching 50. Resistances will be pegged around the 1,590-1,600 levels. Support will be set around the 1,560 level.

ZECON has formed a breakout-pullback-continuation pattern above the EMA9 level with improved volumes. The MACD Histogram has turned green, but the RSI is overbought. Price targets are envisaged at around the RM0.645-RM0.69 levels. Support will be located around the RM0.53 level.

UZMA has advanced to close above the EMA60 level with high volumes. The MACD Histogram has extended another green bar, while the RSI has risen above 50. Price may trend higher, targeting the RM0.975-RM1.07 levels. Support will be located around the RM0.80 level.

NAIM has rebounded off the EMA60 level with mildly improved volumes. The MACD Histogram has turned green, while the RSI is treading slightly below 50. Monitor for a potential flag-formation breakout above RM1.00, targeting the RM1.12-RM1.17 levels. Support will be located around the RM0.94 level.

Source: Mplus Research - 18 Dec 2019