The FBM KLCI extended its gains and retested the 1,630 resistance level, before closing at 1,629.32 pts yesterday, spurred by the rally in crude oil prices. The MACD Histogram has extended another green bar, but the RSI continues to hover below 50. Resistance will be pegged around the 1,645-1,670 levels. Support will be set around the 1,610 level.

MMSV has broken out above the RM0.625 consolidation level with improved volumes. Monitor for the trendline breakout above RM0.65. The MACD Histogram has extended another green bar, while the RSI has crossed above 50. Price target will be envisaged around the RM0.705 and RM0.73 levels. Support will be set around the RM0.625 level.

PRESTAR has formed a trendline breakout above the RM0.625 level with improved volumes. The MACD Histogram has extended another green bar, while the RSI has crossed above 50. Price may trend towards the RM0.685-RM0.75 levels. Support will be anchored around the RM0.585 level.

RSAWIT has rebounded from the recent low of RM0.485 level. The MACD Histogram has turned green, while the RSI continues to trend above 50. Monitor for a breakout above the RM0.535 level, targeting the RM0.585-RM0.61 levels. Support will be pegged around the RM0.505 level.

Source: M+ Online Research - 23 Nov 2016