APL Ind: A STRONG rebound from the double-bottom chart formation lifted this stock out of its bearish channel, causing the moving-average convergence/divergence indicator to trigger a buy signal on Jan 10. The current trend line remains promising but the upward momentum has taken a pause owing to profit-taking activity. If prices break above the immediate hurdle of 55 sen, the next upper resistance is seen at the 65.5 sen level. Support is at 48 sen.
Johor Port: This stock resumed its upward journey after a brief consolidation, with the price hitting an eight-month high on strong volume yesterday. The moving-average convergence/divergence indicator remained firm and the hook-up on the oscillator per cent K of the stochastics momentum index suggests further upside potential in the near term. It is expected to face resistance at the RM1.75 level. Strong support is seen at RM1.50.
PJI Holdings: Renewed buying in the past five trading days lifted the share price to a nearly 12-month high of RM2.49 during intraday trade yesterday. At the same time, it pushed the 14-day relative strength index and the stochastics into a slightly overbought condition. Indicators suggest consolidation may take place soon unless trading volume improves significantly. Support is expected at RM2.35 while resistance is seen at the RM2.65–RM2.70 band.
The comments above do not represent a recommendation to buy or sell
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