The FBM KLCI rejected the EMA9 level as the key index trended lower before closing around 1,661.96 pts. The MACD Histogram has extended another red bar, while the RSI remains below 50. Resistance will be pegged around the 1,680-1,700 levels. Support will be set around the 1,630 level.

KOSSAN has extended its gains above the EMA9 level. The MACD Histogram has turned green, while the RSI is hovering above 50. Monitor for a symmetrical triangle formation breakout above RM4.43, targeting the RM4.71 and RM4.90 levels. Support will be set around the RM4.20 level.

MUIIND has gapped up to close above the EMA20 level with rising volumes. The MACD Indicator has issued a BUY Signal, while the RSI has risen above 50. Monitor for a breakout above RM0.16, targeting the RM0.175-RM0.19 levels. Support will be anchored around the RM0.15 level.

PTRANS has gapped up to close above the EMA20 level. The MACD Histogram has extended another green bar, while the RSI is re-testing 50. Monitor for a breakout above the RM0.275 level, targeting the RM0.305-RM0.315 levels. Support will be pegged around the RM0.25 level.

Source: Mplus Research - 17 Dec 2018