The FBM KLCI closed on a flattish note after trading in a lackluster manner as the key index closed at around the 1,587.33 level yesterday. The MACD Histogram has extended another green bar, while the RSI is approaching 50. Resistances will be pegged around the 1,600-1,610 levels. Support will be set around the 1,570 level.

JFTECH has formed a bullish engulfing candle to close above the EMA9 level with improved volumes. The MACD Histogram has turned green, while the RSI remains above 50. Price may trend higher, targeting the RM1.61-RM1.70 levels. Support will be located around the RM1.38 level.

YSPSAH has formed a bullish engulfing candle to close above the EMA20 level on improved volumes. The MACD Histogram has turned green, while the RSI is re-testing 50. Monitor for a breakout above the RM2.37 level, targeting the RM2.47-RM2.53 levels. Support will be located around the RM2.27 level.

MCT has advanced to close above the EMA9 level on high volumes. The MACD Histogram has extended another green bar, while the RSI has risen above 50. Monitor for a breakout above the RM0.335 level, targeting the RM0.365-RM0.39 levels. Support will be located around the RM0.30 level.

Source: Mplus Research - 22 Jan 2020