Tracking the gains on Wall Street overnight, the FBM KLCI rebounded towards the 1,660 level before closing around the 1,652.74 pts. The MACD Histogram has turned green, but the RSI is hovering below 30. Resistance will be pegged around the 1,660-1,670 levels. Support will be set around the 1,645 level.

MALTON has broken out above the short term resistance of RM0.68 level with improved volumes. The MACD Indicator has expanded positively above zero, while the RSI is hovering above 50. Price target will be envisaged around the RM0.72 and RM0.765 levels. Support will be set around the RM0.645 level.

EFFICEN has experienced a flag formation breakout above the RM0.255 level with higher-than-average volumes. The MACD Indicator expanded positively above zero. The RSI, however, is slightly overbought. Price may rally towards the RM0.31-RM0.32 levels after a short consolidation. Support will be anchored around the RM0.24 level.

TNLOGIS has rebounded off the EMA20 level with mild volumes. The MACD Histogram has turned green. The RSI, however, is slightly overbought. Monitor for a breakout above the RM1.72 level, targeting the RM1.80-RM1.90 levels. Support will be pegged around the RM1.68 level.

Source: M+ Online Research - 11 Nov 2016