Following the violation of the 1,660 level, the selling pressure further intensified; the FBM KLCI ended lower at 1,648.65 pts (-10.71 pts) yesterday. The MACD Indicator trended lower, while the RSI has crossed below 50. The key index may pullback to the 1,600 support. Meanwhile, the resistance is around the 1,700 level

HALEX trended sideways between the RM0.605-RM0.655 levels over the past week with declining volumes. The MACD Histogram extended another red bar. The RSI, however, is hovering above 50. Monitor for a breakout above RM0.655, targeting the RM0.80-RM0.90 levels. Support will be pegged around RM0.60.

SEACERA continues to trend higher on the back of follow-through buying interest after the trendline breakout above the RM0.76 level. The MACD Indicator has issued a “Buy” signal, while the RSI crossed above 50. Price target will be envisaged around the RM0.86-RM0.94 levels. Support will be pegged around the RM0.70 level.

MPAY experienced a middle term trendline breakout above the RM0.285 level with high volumes. The MACD Indicator has flashed a “Buy” signal, while the RSI has hooked above 50. Price may rally towards the RM0.315 and RM0.365 levels after a short consolidation. Support will be anchored around the RM0.27 level.

Source: M+ Online Research - 11 Dec 2015