Tracking the sharp gains on Wall Street overnight, the FBM KLCI recovered all its previous session’s losses as the key index closed at around the 1,690.72 level yesterday. The MACD Histogram has extended another green bar, while the RSI has risen above 50. Resistance will be pegged around the 1,710-1,730 levels. Support will be set around the 1,670 level.

SERBADK has gapped-up to close above the EMA120 level with improved volumes. The MACD Histogram has extended another green bar, while the RSI has risen above 50. Monitor for a breakout above RM3.77, targeting the RM4.07 and RM4.28 levels. Support will be set around the RM3.56 level.

KGB has experienced a short-term consolidation breakout above the RM0.965 level with rising volumes. The MACD Histogram has extended another green bar, while the RSI has recovered from oversold. Price may advance, targeting the RM1.10-RM1.17 levels. Support will be anchored around the RM0.90 level.

RANHILL has rebounded to close above the EMA20 level with rising volumes. The MACD Histogram has extended another green bar, but the RSI is overbought. Price may stage a mild pullback before targeting the RM1.25-RM1.33 levels. Support will be pegged around the RM1.12 level.

Source: Mplus Research - 28 Dec 2018