The FBM KLCI traded mostly within the negative region after hitting the intra-day high of 1,677.00 pts yesterday, led by banking heavyweights. The MACD Histogram has extended another red bar, but the RSI is above 50. Resistance will be envisaged around 1,700. Support will be set around 1,660.

EFFICEN has formed a Breakout-Pullback-Continuation pattern above the RM0.255 level with improved volumes. The MACD Indicator expanded positively above zero, while the RSI trended higher above 50. Price target will be located around the RM0.32-RM0.35 levels. Support will be pegged around RM0.255.

GPACKET trended sideways between the RM0.265-RM0.28 ranges with improved volumes. The MACD Line is above zero, while the RSI is hovering above 50. Monitor for a breakout above the resistance of RM0.28, targeting the RM0.315-RM0.365 levels. Support will be anchored around the RM0.265 level.

DUFU experienced a consolidation breakout above the RM0.415 level with improved volumes. The MACD Indicator has expanded positively above zero, but the RSI is overbought. Price may rally towards the RM0.45-RM0.50 levels after a mild pullback. Support will be pegged around the RM0.40 level.

Source: M+ Online Research - 4 Dec 2015