After lingering in the positive territory the entire trading session, the FBM KLCI managed to chalk-in marginal gains as the key index closed at 1,719.05 pts yesterday. The MACD Histogram has extended another green bar, 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.

GKENT has experienced a flag-formation breakout above the RM3.47 level accompanied by improved volumes. The MACD Histogram has turned green, while the RSI is above 50. Price may rally, targeting the RM3.80-RM4.00 levels. Support will be set around the RM3.30 level.

BAUTO has formed a bullish engulfing candle to close above the EMA20 level. The MACD Histogram has extended another green bar, while the RSI has risen above 50. Monitor for a symmetrical triangle formation breakout above the RM2.11 level, targeting the RM2.20-RM2.32 levels. Support will be anchored around the RM2.03 level.

MATRIX has risen above the EMA20 level after finding support along the EMA120 level. The MACD Histogram has extended another green bar, while the RSI remains above 50. Monitor for a breakout above the RM2.22 level, targeting the RM2.30 and RM2.40 levels. Support will be pegged around the RM2.16 level.

Source: Mplus Research - 8 Dec 2017