The FBM KLCI stayed below the EMA120 level as traders traded cautiously amid the negative sentiments in the Chinese stockmarket. The RSI is hovering below 50. However, the MACD Histogram extended another green bar. Resistance will be pegged around 1,700. Support will be set at 1,660.

MINHO trended marginally higher after the price experienced a breakout above the RM1.40 level. The MACD indicator continues to trend positively above zero. The RSI hooked above 50. Price may rally towards the RM1.88-RM2.00 levels. Support will be located around the RM1.33 level.

MFCB has trended sideways between the RM2.43-RM2.63 levels over the past two months. The MACD indicator has issued a ‘Buy’ signal. The RSI continues to stay above 50. Monitor for a breakout above the RM2.63 level, targeting the RM2.77-RM3.00 levels. Support will be anchored around the RM2.43 level.

PBA experienced a short term breakout above the RM1.35 level with higher-than-average volumes. The MACD Histogram has turned green. The RSI, however, is overbought. Price may rally towards the RM1.47-RM1.66 levels after a short consolidation. Support will be anchored around the RM1.34 level.

Source: M+ Online Research - 30 Nov 2015