Support Line

AFTER peaking out temporarily at a 11-year high of 54.5 sen on March 25, Abric shares drifted sideways with a mild downward bias, undergoing a healthy consolidation. A decisive breach of the 55-sen barrier would signal an uptrend continuation, enroute to the 65-sen level. On the opposite, a crack of the 49-sen floor would see prices falling on extended correction.

OCEANCASH Pacific scaled to a six-month high of 40.5 sen last Friday before pausing, as investors book profit, with prices approaching the historical peak of 44.5 sen. Technically, the moving average convergence/divergence histogram is rising, indicating more upside in the pipeline. Concrete support is pegged at the short term ascending line of 32 sen.