The FBM KLCI formed a bullish harami candle to rebound off the EMA20 level as the key index closed at around the 1,611.04 level yesterday. The MACD Histogram has turned green, while the RSI remains above 50. Resistances will be pegged around the 1,620-1,635 levels. Support will be set around the 1,600 level.

KPOWER has experienced a symmetrical triangle formation breakout above the RM1.45 level on improved volumes. The MACD Indicator has issued a BUY Signal, while the RSI has risen above 50. Price targets are envisaged at the RM1.69-RM1.80 levels. Support will be located around the RM1.34 level.\

BAUTO has formed a bullish candle to close above the EMA20 level. The MACD Histogram has turned green, while the RSI has risen above 50. Monitor for a breakout above RM2.13 level, targeting the RM2.30-RM2.42 levels. Support will be located around the RM2.02 level.

KKB has rebounded to close above the EMA9 level. The MACD Histogram has turned green, while the RSI has risen above 50. Monitor for a breakout above the RM1.45 level, targeting the RM1.51-RM1.58 levels. Support will be located around the RM1.40 level.

Source: Mplus Research - 8 Jan 2020