The FBM KLCI gapped down to record its sixth straight session of decline as the key index closed at around the 1,652.63 pts yesterday. The MACD Histogram has extended another red bar, while the RSI remains below 50. The resistance will be pegged around the 1,670-1,700 levels. Support will be set around the 1,630 level.

BAUTO has formed a bullish engulfing candle to rebound from the EMA9 level. The MACD Histogram has extended another green bar, while the RSI has risen above 50. Monitor for a breakout above RM2.16, targeting the RM2.25 and RM2.31 levels. Support will be set around the RM2.05 level.

IGBREIT has advanced to close above the EMA9 level with improved volumes. The MACD Histogram has turned green, while the RSI has risen above 50. Monitor for a breakout above RM1.72, targeting the RM1.80-RM1.85 levels. Support will be anchored around the RM1.68 level.

MBSB has advanced to re-test the EMA60 level with rising volumes. The MACD Histogram has extended another green bar, while the RSI is approaching 50. Monitor for a breakout above the RM1.00 level, targeting the RM1.05-RM1.11 levels. Support will be pegged around the RM0.95 level.

Source: Mplus Research - 12 Dec 2018