Again, the FBM KLCI ended in the negative territory, tracking the negative performance on the overnight Dow. The MACD Histogram extended another red bar. However, the RSI is hovering above 50. The FBM KLCI’s upside is likely to be capped around 1,700. Support will be set around 1,660.

KHEESAN experienced a sideways consolidation breakout above the RM0.815 level with improved volumes. The MACD Indicator has expanded positively above zero, but the RSI is overbought. Price may rally towards the RM0.93-RM1.00 levels after a short consolidation. Support will be located around RM0.80.

SAUDEE trended sideways between the RM0.495-RM0.525 levels over the past two months. The MACD Indicator is trending higher, while the RSI is staying above 50. Monitor for a breakout above the RM0.525 level, targeting the RM0.585 level. Support will be pegged around the RM0.51 level.

IKHMAS experienced a short term breakout above the RM0.695 level accompanied by improved volumes. The MACD Line is hovering above zero, while the RSI has hooked above 50. Monitor for a follow-through buying interest above RM0.725, targeting the RM0.79 and RM0.835 levels. Support will be set around RM0.675.

Source: M+ Online Research - 7 Dec 2015