The FBM KLCI managed to eke-out minor gains after recovering all its intraday losses as the key index closed at around the 1,561.79 level yesterday. The MACD Histogram has extended another green bar, while the RSI remains oversold. Resistances will be pegged around the 1,570-1,580 levels. Support will be set around the 1,550 level.

GAMUDA has formed a bullish candle to close above the EMA20 level on mildly improved volumes. The MACD Histogram has turned green, while the RSI is approaching 50. Price may advance, targeting the RM3.88-RM4.04 levels. Support will be located around the RM3.58 level.

CABNET has advanced above the EMA9 level. The MACD Histogram has extended another green bar, but the RSI is overbought. Monitor for a breakout above the RM0.23 level, targeting the RM0.255-RM0.27 levels. Support will be located around the RM0.21 level.

ARMADA has formed a bullish candle to re-test the EMA20 level. The MACD Histogram has turned green, but the RSI remains below 50. Monitor for a short-term channel formation breakout above the RM0.49 level, targeting the RM0.55-RM0.59 levels. Support will be located around the RM0.455 level.

Source: Mplus Research - 11 Dec 2019