Despite the FBM KLCI ending another session in the negative territory below the 1,630 level, most stocks rebounded. The MACD Histogram extended another red bar and the RSI has tripped below 30. Resistance will be pegged around 1,660. Support will be set around the 1,600 level.

HOHUP has experienced a short term breakout above the RM0.985 level with improved volumes. The MACD Indicator is trending higher, while the RSI has surged above 50; indicating that the positive momentum is intact. Resistance will be envisaged around RM1.13. Support will be pegged around RM0.96.

SYF experienced a flag formation breakout above the RM0.535 level with improved volumes. The MACD Indicator expanded positively above the zero level. The RSI, however, has crossed above 70. Price may rally towards the RM0.575-RM0.605 levels after a short consolidation. Support will be located around the RM0.505 level.

FFHB has rebounded off the EMA9 level with higher-than-average volumes. The MACD Line is hovering strongly above the zero level. The RSI, however, is overbought. Monitor for a breakout above the RM0.71 level, targeting the RM0.84 and RM0.99 levels. Support will be pegged around the RM0.655 level.

Source: M+ Online Research - 16 Dec 2015