The FBM KLCI remained downbeat for the seventh straight session as the key index closed at around the 1,545.59 level yesterday. The MACD Histogram has extended another red bar, while the RSI remains oversold. Resistance will be pegged around the 1,560-1,572 levels. Support will be set around the 1,535 level.

GENETEC has formed a breakout-pullback-continuation pattern above the EMA9 level on improved volumes. The MACD Histogram has turned green, while the RSI remains above 50. Price may trend higher, targeting the RM1.36 and RM1.46 levels. Support will be set around the RM1.10 level.

SIME has formed a bullish engulfing candle to re-test the EMA9 level on mildly improved volumes. The MACD Histogram has turned green, but the RSI remains below 50. Monitor for a breakout above the RM2.22 level, targeting the RM2.38-RM2.48 levels. Support will be anchored around the RM2.14 level.

TOMEI has experienced a consolidation breakout above the RM0.49 level on high volumes. The MACD Indicator has issued a BUY Signal, while the RSI has risen above 50. Price may advance, targeting the RM0.55-RM0.60 levels. Support will be located around the RM0.455 level.

Source: Mplus Research - 31 Jan 2020