The FBM KLCI extended its losses as the key index lingered in the negative territory, before closing at 1,717.23 pts last Friday. The MACD Histogram has extended another green bar, while the RSI remains below 50. Resistance will be pegged around the 1,730-1,750 levels. Support will be set around the 1,700 level.

MBL has formed a breakout-pullback-continuation pattern above the RM1.26 level accompanied by improved volumes. The MACD Histogram has turned green, but the RSI is below 50. Price may rally, targeting the RM1.43-RM1.50 levels. Support will be set around the RM1.26 level.

CHINWEL has experienced a symmetrical triangle formation breakout with high volumes. The MACD Histogram has turned green, while the RSI is above 50. Price may trend higher, targeting the RM1.85- RM1.94 levels. Support will be anchored around the RM1.72 level.

COCOLND has closed above the EMA120 level with rising volumes. The MACD Histogram has turned green, but the RSI remains below 50. Monitor for a consolidation breakout above the RM2.83 level, targeting the RM2.93 and RM2.98 levels. Support will be pegged around the RM2.76 level.

Source: Mplus Research - 27 Nov 2017