The FBM KLCI has rejected the immediate resistance of the 1,840 level and ended below the downward trendline. The MACD Histogram has turned red, but the RSI is hovering slightly above 50. If the key index violates below the 1,820 level, further support will be pegged around the 1,770-1,800 levels.

CAB is hovering within a triangle formation with improved volumes. The MACD indicator has issued a “Buy” signal, while the RSI has hooked above 50. Monitor for a breakout above the RM1.10 level, targeting the RM1.30-RM1.41 levels. Support will be set around the RM0.975 level.

ENGTEX surged higher above the EMA60 level, accompanied by improved volumes and could be retesting the immediate resistance of the RM1.98 level. Both the MACD Indicator and the RSI are trending higher. Price target will be envisaged around the RM2.10-RM2.18 levels. Support is set around the RM1.81 level.

EITA has rebounded off the weekly EMA20 level with improved volumes. The weekly MACD Histogram has extended another green bar, while the weekly RSI has hooked above the 50 level. Price target will be located around the RM1.54 and RM1.82 levels. Support will be pegged around the RM1.26 level.

Source: M+ Online Research - 28 Nov 2014