Gamuda is also a construction and building materials stock but its technical configuration is different from WCT. Chart pattern formation suggests that a potential head and shoulders top is in place for Gamuda coupled with a declined in volume as prices moved higher. The MACD trend indicator remains weak below its signal line, trending down and it is hovering near the centerline (a move below zero - a bearish centerline crossover implies that momentum has changed from positive to negative). The MFI oscillator is bearish as it breaks below its diagonal support and remains below the 50% neutrality level. Immediate support will be at RM2.95 which is the neckline of the potential head and shoulders formation. Interestingly, it corresponds close to its 50-day moving average and the 23.6% Fibonacci retracement from its October 2008 low to its recent August 2009 high. A clear violation below its neckline support at RM2.95 shall see a downside breakout with a potential target of RM2.50 which is also the next classical support. Failure to hold shall see a further correction towards the next stronger support at RM2.13-RM2.10. Immediate resistance will be at RM3.23 follow by RM3.44-3.50. A break above it shall see Gamuda resuming its uptrend to test the next classical resistance at RM3.90.