Tracking the gains on Wall Street overnight, the FBM KLCI rebounded above the EMA9 level before closing around the 1,828.83 pts. The MACD Indicator has issued a SELL signal, while the RSI is hovering above 50. Resistance will be pegged around the 1,850-1,870 levels. Support will be set around the 1,800 level.

OMESTI has formed a bullish engulfing candle to close above the EMA20 level improved volumes. The MACD Histogram has extended another green bar, while the RSI is retesting 50. Monitor for a symmetrical triangle formation breakout above the RM0.53 level, targeting the RM0.59 and RM0.605 levels. Support will be set around the RM0.49 level.

TRC has experienced a short-term breakout-pullback-continuation pattern above the EMA20 level. The MACD Histogram has turned green. The RSI, however, is slightly overbought. Price may rally towards the RM0.735-RM0.755 levels. Support will be anchored around the RM0.57 level.

UOADEV has experienced a breakout to close above the EMA120 level with improved volumes. The MACD Histogram has turned green, while the RSI remains above 50. Price may trend higher, targeting the RM2.70-RM2.76 levels. Support will be pegged around the RM2.35 level.

Source: Mplus Research - 22 Jan 2018