Support Line

Fajarbaru Builder Group

SHARES of Fajarbaru Builder Group finished flat at RM1.07 amid extended sideways correction yesterday. With the stochastic falling and the moving average convergence/divergence (MACD) in danger of going under the signal line, prices may continue to consolidate in the short term. Solid support and initial resistance are envisaged at RM1.02 and RM1.14 respectively.

MNRB Holdings

RENEWED buying pushed MNRB Holdings to a near 20-month high of RM3.17 during intra-day session yesterday. Apparently, indicators are positive, implying prices may extend gains in the near term. If they can overcome the RM3.40 barrier, the next target would be to fill the RM4.04-RM4.16 gap. Support is seen at the RM3 mark, followed by the RM2.78 level.

Petronas Chemicals

PETRONAS Chemicals fell two sen to RM6.79 amid extended correction yesterday. Technically, the negative expansion of the MACD histogram against the trigger line suggests this stock may ease in the short term, with support anticipating at the RM6.60 floor. Strong resistance can be expected at the RM7.25-RM7.30 range.