Support Line

CAELY Holdings climbed to a near seven-month high of 52.5 sen on April 16 before turning sideways, undergoing consolidation. A breach of the recent peak of 52.5 sen would signal the continuation of a rally, en route to challenge the 59 sen-60 sen heavy resistance band. On the opposite, a crack of the 47-sen floor indicates the start of a downward correction process.

OPCOM Holdings staged a relief rebound from a three-month low of 75.5 sen to achieve a high of 80.5 sen during intra-day session due to oversold reason. Technically, prices are expected to extend recovery but the upside potential may be capped at the 88 sen or the 98-sen barrier. A slip below the 74-sen line is likely to drag prices down to the 65-sen level on extended correction process.