The FBM KLCI continues to trend higher on the back of window dressing activities. The MACD Line is trending higher towards zero. The RSI has hooked above 50. The key index may rally further towards the 1,695 level. Meanwhile, the support will be pegged around the 1,630 level.

TDM experienced a consolidation breakout above the RM0.665 level with higher-than-average volumes. The MACD Indicator has issued a “Buy” signal, while the RSI has crossed above 50. Price target will be envisaged around the RM0.725-RM0.77 levels. Support will be located around the RM0.63 level.

CENSOF surged above the resistance of the RM0.30 level with high volumes. The MACD Indicator has expanded positively above zero. The RSI is trending higher above the 50 level. Price is likely to rally towards the target of the RM0.345-RM0.37 levels. Meanwhile, the support will be anchored around the RM0.28 level.

TECFAST has trended sideways after a breakout above the RM0.225 level with high volumes. The MACD Indicator has expanded positively above zero, while the RSI is hovering above 50. Monitor for a breakout above the RM0.25 level, targeting the RM0.32 level. Support will be pegged around RM0.225.

Source: M+ Online Research - 30 Dec 201i5