Support Line


  • Business
  • Thursday, 23 Jan 2003

  • 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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