TSupport Line
Thursday, 5 March 2015
By: K.M. LEE
FELDA Global Ventures fell from a two-month high of RM2.97 in mid-February to a low of RM2.16 on Tuesday before halting. Tech-nically, the prevailing trend is bearish but the curving up pictogram of the stochastic from the oversold area offers hope of a steadier trend in the short term. Pivotal support and initial resistance are seen at RM2.02 and RM2.52 respectively.
MEGA First Corp shares inched nearer to the recent high of RM2.77 amid persistent buying momentum. Prices are likely to encounter significant resistance at the RM2.88-RM2.90 barrier, of which a successful breakout would propel prices up to the RM3.18-RM3.20 band while concrete support is resting at the 21-day simple moving average of RM2.49.
WINTONI Group added 2.5 sen to 25.5 sen, the best level since February 2008 on follow-through interest. Apparently, the stochastic has issued a tentative sell at the overbought area, implying some sort of consolidation may be around the corner. Support is resting at the 20 sen-21 sen band while stiff resistance is resting at the 32.5 sen-33 sen range.
The comments above do not represent a recommendation to buy or sell.
Thursday, 5 March 2015
By: K.M. LEE
FELDA Global Ventures fell from a two-month high of RM2.97 in mid-February to a low of RM2.16 on Tuesday before halting. Tech-nically, the prevailing trend is bearish but the curving up pictogram of the stochastic from the oversold area offers hope of a steadier trend in the short term. Pivotal support and initial resistance are seen at RM2.02 and RM2.52 respectively.
MEGA First Corp shares inched nearer to the recent high of RM2.77 amid persistent buying momentum. Prices are likely to encounter significant resistance at the RM2.88-RM2.90 barrier, of which a successful breakout would propel prices up to the RM3.18-RM3.20 band while concrete support is resting at the 21-day simple moving average of RM2.49.
WINTONI Group added 2.5 sen to 25.5 sen, the best level since February 2008 on follow-through interest. Apparently, the stochastic has issued a tentative sell at the overbought area, implying some sort of consolidation may be around the corner. Support is resting at the 20 sen-21 sen band while stiff resistance is resting at the 32.5 sen-33 sen range.
The comments above do not represent a recommendation to buy or sell.
