The FBM KLCI gapped down to extend its losses as the key index closed lower at around the 1,650.56 level yesterday. The MACD Histogram has extended another green bar, while the RSI remains below 50. Resistance will be pegged around the 1,670-1,680 levels. Support will be set around the 1,630 level.

SERBADK has formed a bullish engulfing candle to re-test the EMA9 level with improved volumes. The MACD Histogram has turned green, while the RSI has risen above 50. Monitor for a trendline breakout above RM3.72, targeting the RM3.94 and RM4.07 levels. Support will be set around the RM3.56 level.

LAYHONG has advanced to re-test the EMA20 level with rising volumes. The MACD Histogram has extended another green bar, while the RSI has risen above 50. Monitor for a consolidation breakout above RM0.365, targeting the RM0.41-RM0.44 levels. Support will be anchored around the RM0.325 level.

BTECH has rebounded to close above the EMA9 level. The MACD Histogram has turned green, while the RSI has risen above 50. Monitor for a breakout above RM0.235, targeting the RM0.255-RM0.275 levels. Support will be pegged around the RM0.22 level.

Source: Mplus Research - 21 Dec 2018