The FBM KLCI closed marginally higher around the 1,645.28 pts yesterday in tandem with gains in key regional indices after crude oil price rallied. The MACD Histogram has extended another green bar, while the RSI is trending above 50. Resistances will be pegged around the 1,650-1,660 levels. Support will be set around the 1,630 level.

After rebounding off the EMA120 level, PENTA has consolidated for approximately two weeks before forming a short-term breakout above the of RM1.26 level. The MACD Histogram has extended another green bar, while the RSI is approaching 50. Price target will be envisaged around the RM1.41 and RM1.57 levels. Support will be set around the RM1.19 level.

JTIASA has formed a breakout-pullback-continuation pattern above the RM1.30 level with some improved volumes. The MACD Histogram has extended another green bar, while the RSI has crossed above 30. Its price might head for a short-term consolidation before targeting the RM1.47-RM1.55 levels. Support will be anchored around the RM1.30 level.

GHLSYS has trended sideways between the RM0.875 and RM0.84 levels over the past one-and-a half month period. The MACD Line has crossed above zero, while the RSI is hovering above 50. Monitor for a breakout above the RM0.84 resistance level to target the RM0.875 and RM0.99 levels. Support will be set around the RM0.795 level.

Source: Mplus Research - 14 Dec 2016