Support Line

IHH Healthcare tested the RM5 barrier for the fourth time in five trading days. Technically, all short-term indicators are positive, suggesting prices would overcome this hurdle eventually, en route to challenge the all-time peak of RM5.12. The immediate support is resting at the RM4.85 line.

MAXIS scaled to a 10-month high of RM7.15 on Tuesday before pausing owing to apparent profit-taking activity. Based on the daily chart, the new leg of uptrend from the RM6.21 level on Sept 23 is intact and any pullback is seen as an opportunity for investors to accumulate more. Solid support and heavy resistance are envisaged at the RM6.90 mark and the historical peak of RM7.32 respectively.