The eleventh hour buying support in selective index heavyweight sent the FBM KLCI sharply higher, as the key index closed at intraday high of 1,724.84 pts yesterday. The MACD Indicator has issued a BUY Signal, while the RSI has risen above 50. Resistance will be pegged around the 1,730-1,750 levels. Support will be set around the 1,700 level.

OCNCASH has experienced a short-term consolidation breakout above the RM0.72 level accompanied by improved volumes. The MACD Histogram has extended another green bar, while the RSI has recovered from the oversold position. Monitor for a breakout above the RM0.78 level, targeting the RM0.85- RM0.90 levels. Support will be set around the RM0.68 level.

XINHWA has rebounded off the EMA20 level with improved volumes. The MACD Histogram has extended another green bar, while the RSI rose above 50. Monitor for a breakout above the RM1.30 level, targeting the RM1.40-RM1.46 levels. Support will be anchored around the RM1.23 level.

DESTINI has extended its gains to close above the EMA20 level. The MACD Histogram has extended another green bar, but the RSI is below 50. Monitor for a breakout above the RM0.47 level, targeting the RM0.53 and RM0.555 levels. Support will be pegged around the RM0.425 level.

Source: Mplus Research - 6 Dec 2017