The extended window dressing activities sent the FBM KLCI gapped up as the key index closed higher at 1,751.21 pts yesterday. The MACD Histogram has extended another red bar, while the RSI remains above 50. Resistance will be pegged around the 1,760-1,770 levels. Support will be set around the 1,730 level.

VIS has gapped up to close above the EMA20 level with improved volumes. The MACD Histogram has extended another green bar, while the RSI has risen above 50. Monitor for a breakout above the RM0.64 level, targeting the RM0.71-RM0.785 levels. Support will be set around the RM0.57 level.

DRBHCOM has rebounded off the EMA20 level, accompanied by improved volumes. The MACD Histogram has turned green, while the RSI is above 50. Monitor for a symmetrical triangle formation breakout above RM1.77, targeting the RM1.86-RM1.90 levels. Support will be anchored around the RM1.70 level.

NYLEX has experienced a breakout-pullback-continuation pattern above the EMA20 level with improved volumes. The MACD Histogram has turned green, but the RSI is slightly overbought. Price may rally, targeting the RM0.92-RM0.98 levels. Support will be set around the RM0.84 level.

Source: Mplus Research - 22 Dec 2017