Support line

BINA Darulaman shares were generally range-bound on consolidation after bottoming out at a six-year low of 54 sen on August 26, last year. Technically, prices are poised to firm in the short-term, with the moving average convergence/divergence histogram returning to the positive area. A push above the 200-day simple moving average of 73 sen, followed by a clear penetration of the pretty stiff barrier of 78 sen would see the fate of this stock changing better, enroute to the 90 sen mark. The immediate support is envisaged at the 66 sen. An additional floor is lying at the 60 sen line.

SHARES of Cepatwawasan Group rose to a three-week high of 77 sen during intra-day session. Based on the daily chart, this stock appears making a fresh attempt to recover and it has a fairly good chance of making it this time round, with all the short-term indicators painting an encoraging landscape. A breach of the two-year-old bearish descending line of 80 sen, followed by a major breakout of the 83 sen heavy barrier would signal a bullish turnaround. Initial support is expected at the 74 sen level and crucial support is pegged at the 68.5 sen floor.