The FBM KLCI eked out marginal gains to close at around the 1,634.52 pts level, lifted by buying support among selective oil & gas and telco heavyweights. The MACD Histogram has extended another red bar, but 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 forming a trendline breakout above the RM0.825 level, GHLSYS has breached above the RM0.84 resistance level. The MACD Histogram has turned green, but the RSI is slightly overbought. Price targets are located around the RM0.875-RM0.915 levels. Support will be anchored around the RM0.795 level.

WILLOW has formed a bullish engulfing candle to close above the EMA20 level with slightly improved volumes. The MACD Histogram has extended another green bar, while the RSI is approaching 50. Monitor for a trendline breakout above RM0.75 level to target around the RM0.78 and RM0.81 levels. Support will be set around the RM0.72 level.

SASBADI has formed a short-term consolidation breakout above RM1.39 with improved volumes. The MACD Line has risen above zero, while the RSI has crossed above 50. Price might head for a short-term consolidation before targeting the RM1.55-RM1.70 levels. Support will be anchored around the RM1.31 level.

Source: Mplus Online Research - 21 Dec 2016