The FBM KLCI extended its gains, lifted by the window dressing activities as the key index closed at 1,779.10 pts yesterday. The MACD Line has expanded positively above the zero level, but the RSI is overbought. Resistance will be pegged around the 1,780-1,790 levels. Support will be set around the 1,760 level.

MUHIBAH has gapped-up to close above the RM2.87 resistance level. The MACD Histogram has turned green, while the RSI is above 50. Price may advance, targeting the RM2.99-RM3.10 levels. Support will be anchored around the RM2.70 level.

GADANG has experienced a breakout to close above the RM1.11 level with improved volumes. The MACD Histogram has extended another green bar, while the RSI has risen above 50. Price may trend higher, targeting the RM1.20-RM1.28 levels. Support will be set around the RM1.05 level.

SALUTE has experienced a flag-formation breakout above the RM1.35 level with improved volumes. The MACD Histogram has extended another green bar, while the RSI remains above 50. Price may rally, targeting the RM1.42-RM1.50 levels. Support will be set around the RM1.30 level.

Source: Mplus Research - 29 Dec 2017