The FBM KLCI trended sharply lower, dragged down by weakness in Genting-related shares as the key index closed lower to around the 1,684.97 level yesterday. The MACD Histogram has turned red, while the RSI remains below 50. Resistance will be pegged around the 1,700-1,710 levels. Support will be set around the 1,670 level.

MATRIX has formed a breakout-pullback-continuation pattern above the EMA20 level with improved volumes. The MACD Histogram has extended another red bar, while the RSI remains above 50. Price may rally, targeting the RM2.08 and RM2.12 levels. Support will be set around the RM1.95 level.

AEON has rebounded to close above the EMA60 level. The MACD Histogram has turned green, while the RSI remains above 50. Price may trend higher, targeting the RM1.89-RM1.97 levels. Support will be anchored around the RM1.79 level.

COASTAL has gapped-up to close above the EMA20 level with improved volumes. The MACD Histogram has turned green, while the RSI has risen above 50. Monitor for a breakout above RM0.94, targeting the RM1.02-RM1.10 levels. Support will be pegged around the RM0.885 level.

Source: Mplus Research - 28 Nov 2018