The FBM KLCI snapped a streak of losses as the key index rebounded to close at around the 1,535.80 level yesterday. The MACD Histogram has turned green, while the RSI has recovered from oversold. Resistance will be pegged around the 1,550-1,560 levels. Support will be set around the 1,515 level.

CRESBLD has formed a bullish engulfing candle to close above the EMA120 level on high volumes. The MACD Indicator has issued a BUY Signal, while the RSI remains above 50. Monitor for a breakout above the RM0.95 level, targeting the RM1.01-RM1.08 levels. Support will be pegged around the RM0.895 level.

GAMUDA has gapped up to close above the EMA60 level. The MACD Histogram has turned green, while the RSI is approaching 50. Price may trend higher, targeting the RM4.17 and RM4.30 levels. Support will be set around the RM3.75 level.

SOP has gapped up to re-test the EMA60 level on mild volumes. The MACD Histogram has turned green, but the RSI recovered from oversold. Monitor for a trendline breakout above RM3.40, targeting the RM3.76-RM4.08 levels. Support will be anchored around the RM3.10 level.

Source: Mplus Research - 5 Feb 2020