The FBM KLCI retreated, forming a bearish engulfing candle to close below the EMA60 level as the key index closed at around the 1,591.46 level last Friday. The MACD Histogram has extended another red bar, while the RSI remains below 50. Resistance will be pegged around the 1,600-1,610 levels. Support will be set around the 1,575 level.

VS has breakout above the short term consolidation of RM1.38 level on high volumes. The MACD Histogram has turned green, while the RSI has risen above 50. Price may trend higher, targeting the RM1.51 and RM1.59 levels. Support will be set around the RM1.33 level.

SCABLE has extended its’ gains to close above the EMA9 level accompanied by rising volumes. The MACD Histogram has extended another green bar, while the RSI has risen above 50. Monitor for a breakout above the RM0.36 level, targeting the RM0.41-RM0.44 levels. Support will be anchored around the RM0.315 level.

UNIMECH has rebounded off the EMA60 level, forming a bullish engulfing candle on minor improved volumes. The MACD Histogram has extended another green bar, while the RSI is hovering slightly below the overbought level. Monitor for a breakout above the RM1.29 level, targeting the RM1.33-RM1.38 levels. Support will be pegged around the RM1.25 level.

Source: Mplus Research - 13 Jan 2020