Faber: HAVING tested the 23.5 sen level twice in three trading days last week, prices moved up to close at intra-day high of 29 sen yesterday. Faber is anticipated to move higher in the near-term on speculative play as the stochastics momentum index had issued a short-term buy signal late last week but is expected to face an immediate hurdle at the 31 sen level. The next overhead resistance is at 36.5 sen. Support is maintained at 23.5 sen. Maxis: A MILD technical recovery lifted prices from the RM5.30 level to a high of RM5.50 yesterday. Though the stochastics momentum index has moved out of the bearish zone, the upward momentum on the 14-day relative strength index increases the probability for further advances in the near-term. Prices will encounter an immediate resistance at RM5.65 and following that, at the RM5.95-RM6 band. Strong support is expected at RM5.25. MPI: PRICES rebounded slightly from a temporary bottom of RM11.40 on Feb 13 to hit an intra-day high of RM11.80 yesterday in a grossly oversold condition after a month of downtrend. The moving average convergence/divergence indicator continued trending sharply lower against the signal-line in the negative territory to stay bearish, suggesting that this chipmaker is not out of the woods yet, unless prices can breach the RM12.30 level success. The comments above do not represent a recommendation to buy or sell.
Maxis: A MILD technical recovery lifted prices from the RM5.30 level to a high of RM5.50 yesterday. Though the stochastics momentum index has moved out of the bearish zone, the upward momentum on the 14-day relative strength index increases the probability for further advances in the near-term. Prices will encounter an immediate resistance at RM5.65 and following that, at the RM5.95-RM6 band. Strong support is expected at RM5.25. MPI: PRICES rebounded slightly from a temporary bottom of RM11.40 on Feb 13 to hit an intra-day high of RM11.80 yesterday in a grossly oversold condition after a month of downtrend. The moving average convergence/divergence indicator continued trending sharply lower against the signal-line in the negative territory to stay bearish, suggesting that this chipmaker is not out of the woods yet, unless prices can breach the RM12.30 level success. The comments above do not represent a recommendation to buy or sell.
