The FBM KLCI reversed all its intraday gains to finish in the negative territory ahead of the holiday shortened weekend break, closing at 1,717.86 pts on last Thursday. The MACD Histogram has extended another green bar, but the RSI remains oversold. Resistance will be pegged around the 1,730-1,750 levels. Support will be set around the 1,700 level.

KGB has experienced a breakout-pullback-continuation pattern above the EMA60 level. The MACD Histogram has turned green, while the RSI remains below 50. Monitor for a breakout above the RM0.78 level, targeting the RM0.85-RM0.90 levels. Support will be set around the RM0.71 level.

After consolidating for the past month, GBGAQRS has recovered from the EMA20 level. The MACD Histogram has extended another green bar, while the RSI rose above 50. Monitor for a breakout above the RM2.00 level, targeting the RM2.20-RM2.30 levels. Support will be anchored around the RM1.89 level.

MATRIX has formed a bullish engulfing candle to close above the EMA20 level accompanied by rising volumes. The MACD Histogram has turned green, while the RSI is retesting 50. Monitor for a symmetrical triangle formation breakout above the RM2.21 level, targeting the RM2.30 and RM2.40 levels. Support will be pegged around the RM2.13 level.

Source: Mplus Research - 4 Dec 2017