Support Line

KLK:: Sporadic buying interest suggests on-going accumulation and the counter could be building a base at theRM6.15–RM6.60 band for an upward journey. The moving-average convergence/divergence indicator should trigger a buy signal in the next few days if the price breaks above the strong resistance convincingly. Support is at RM6.15. 

Resort World: After a brief correction late last year, its price started rising from the RM9.10 level on Jan 2 to close at the day’s high of RM10.40 yesterday, pushing the stochastics momentum index into overbought territory. Shares are however, holding firm above the RM10 mark, suggesting the underlying sentiment remains bullish. Immediate upside target is seen at RM11.20 while support is at RM9.75. 

Suria Capital: The moving-average convergence/divergence indicator has expanded sharply against the signal-line to stay bullish. But the stochastics suggest that prices are slightly overbought after recent sharp gains, and the upward momentum may slow down over the next few days owing to profit-taking. Support and resistance levels are seen at 53 and 65 sen respectively. 

 

The comments above do not represent a recommendation to buy or sell. 

Resort World: After a brief correction late last year, its price started rising from the RM9.10 level on Jan 2 to close at the day’s high of RM10.40 yesterday, pushing the stochastics momentum index into overbought territory. Shares are however, holding firm above the RM10 mark, suggesting the underlying sentiment remains bullish. Immediate upside target is seen at RM11.20 while support is at RM9.75. 

Suria Capital: The moving-average convergence/divergence indicator has expanded sharply against the signal-line to stay bullish. But the stochastics suggest that prices are slightly overbought after recent sharp gains, and the upward momentum may slow down over the next few days owing to profit-taking. Support and resistance levels are seen at 53 and 65 sen respectively. 

 

The comments above do not represent a recommendation to buy or sell.