Mild profit taking activities sent the FBM KLCI lower as the key index closed at around the 1,694.99 level yesterday. The MACD Histogram has extended another green bar, while the RSI remains above 50. Resistance will be pegged around the 1,710-1,730 levels. Support will be set around the 1,670 level.

GCB has formed a breakout-pullback-continuation pattern above the EMA20 level with improved volumes. The MACD Histogram has turned green, while the RSI remains above 50. Price may advance, targeting the RM3.07 and RM3.20 levels after a minor pullback. Support will be set around the RM2.76 level.

PENTA has extended its gains above the EMA9 level. The MACD Histogram has extended another green bar, but the RSI remains below 50. Monitor for a breakout above RM3.29, targeting the RM3.63-RM3.87 levels. Support will be anchored around the RM3.02 level.

TONGHER has gapped-up to close above the EMA20 level with slightly improved volumes. The MACD Indicator has issued a BUY Signal, while the RSI remains above 50. Monitor for a trendline breakout above RM4.03, targeting the RM4.28-RM4.40 levels. Support will be pegged around the RM3.82 level.

Source: Mplus Research - 5 Dec 2018