Support Line

MULTI-USAGE Holdings rebounded to a near five-month high of 54 sen during intra-day session amid continuous bargain hunting interest. Based on the daily chart, prices are likely to encounter marked at the 66-sen barrier, of which a clear penetration would see the bulls becoming more aggressive, enroute to the 75-sen mark while current support is resting at the 50-sen line.

OKA Corp hit a 10-year high of 94.5 sen on Tuesday before turning range-bound on consolidation. Technically, indicators are positive, implying investors can consider accumulating more, especially on weakness. A breach of the RM1.04-RM1.08 band would set the stage for a re-test of the all-time peak of RM1.20. Initial support is seen at the 87-sen level.