The FBM KLCI halted a three consecutive session of losing streak as the key index was traded largely in the positive territory before closing at 1,619.68 pts. The MACD Histogram, however, has extended another red bar, while the RSI continues to trend below 50. Resistances will be pegged around the 1,630- 1,650 levels. Support will be set around the 1,610 level.

After finding some support above the RM1.20 level, PENTA has formed a breakout-pullbackcontinuation pattern above the RM1.27 level. The MACD Histogram has turned green, while the RSI is approaching the overbought level. Price could trend towards the targeted RM1.41 and RM1.57 levels. Support will be pegged below the RM1.27 level.

SENDAI has rebounded off the EMA20 level and formed a flag-formation breakout above the RM0.575 level with improved volumes. The MACD Histogram has turned green, while the RSI is approaching the overbought level. Price targets are envisaged around the RM0.60 and RM0.66 levels. Support will be set around the RM0.56 level.

DAYANG has gapped-up and closed above the EMA120 level with slightly improved volumes. The MACD Indicator has expanded positively above the zero level, while the RSI is approaching the overbought level. Monitor for a breakout above the RM0.975 level to target the RM1.08 and RM1.12 levels. Support will be pegged below the RM0.915 level.

Source: Mplus Online Research - 28 Dec 2016