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Support Line
by hlk Thu 23 May 2013, 08:17
LAND & General
recovered to a nine-month high of 48 sen on Monday before pausing. In
spite of that, indicators are still painting a promising landscape. If
prices can shoot over the 51 sen barrier, a continuous rally can be
expected, targeting the 64 sen level. Support is resting at the 14-day
simple moving average of 44 sen.
MALTON
reversed from an early 15-month peak to settle slightly lower owing to
apparent profit-taking. Technically, the tentative topping out sign on
the stochastic at the overbought territory suggests correction in the
short term. Current support is seen at the 65 sen level while stiff
resistance is expected at the 76.5 sen barrier.
SUSTAINED bargain hunting pushed Zelan shares to a 6-month
high of 37.5 sen during intra-day session. Based on the daily chart,
the bulls had penetrated the four-year-old bearish descending line,
suggesting a bullish reversal. Resistance is anticipated at the 42.5 sen
line. An upper hurdle is resting at the 55 sen mark. Support is seen at
30.5 sen.
The comments above do not represent a recommendation to buy or sell.
recovered to a nine-month high of 48 sen on Monday before pausing. In
spite of that, indicators are still painting a promising landscape. If
prices can shoot over the 51 sen barrier, a continuous rally can be
expected, targeting the 64 sen level. Support is resting at the 14-day
simple moving average of 44 sen.
MALTON
reversed from an early 15-month peak to settle slightly lower owing to
apparent profit-taking. Technically, the tentative topping out sign on
the stochastic at the overbought territory suggests correction in the
short term. Current support is seen at the 65 sen level while stiff
resistance is expected at the 76.5 sen barrier.
SUSTAINED bargain hunting pushed Zelan shares to a 6-month
high of 37.5 sen during intra-day session. Based on the daily chart,
the bulls had penetrated the four-year-old bearish descending line,
suggesting a bullish reversal. Resistance is anticipated at the 42.5 sen
line. An upper hurdle is resting at the 55 sen mark. Support is seen at
30.5 sen.
The comments above do not represent a recommendation to buy or sell.
hlk- Moderator
- Posts : 19013 Credits : 45112 Reputation : 1120
Join date : 2009-11-14
Location : Malaysia
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