Update: KLCI, Iris/Versatile, RHB, Utama,Tebrau, FKLI

1) KLCI - Should still be ok, with support at 906 & resistance at 913. It needs to break above 913 for next significant move to 920 & 930. Dow closed up & Oil down, so CI would be ok today.


2) Iris - Has made up half of the loss from the large black candle last Friday. If volume buying continues, prices may continue to rise. Resistance is at 1.24. Once a syndicated stock always a syndicated stock. Trust me this stock will beat all expectations & make new historical highs this year. BTW Versatile will also follow Iris & continue its rise from the major correction on Friday.


3) RHB - The candle that looks like a shooting star isn't one at all. Shooting Stars are top reversal patterns. This candle is not at the top, so it is not significant. RHB can go anywhere at the moment but more likely will be flat for a few days. Support at 1.16 & Resistance at 1.32.


4) Utama - Has formed a Doji Evening Star, a reversal pattern to confirm correction is over. However, I would have liked to see 3rd white candle close higher into the 1st black candle (see 3 candles in the red circle). The strength of the reversal is not high bec of low volume. While it should not fall below 1.08, it will need vol to breakout of recent high of 1.23. Good chance it will go flat for a few days to gather strength for a breakout action. A fall below 1.08 will be negative.

5) Tebrau - is trending up nicely. Breakout above 0.645 (out of short term downtrend) is positive & vol breakout above 0.725 will be very bullish. Daily & Weekly MACD has remained positive even thru the recent major correction & RSI is only 68 & moving up. All good signs for Tebrau. BUY with cut loss below 0.55.


6) CI Futures (FKLI)
Candles show bullish Engulfing pattern at the recent lows. Based on candlestick, this is a definite bullish pattern, next move will be up for FKLI.