Support Line


  • Business Premium
  • Tuesday, 04 Mar 2003

  • Khee San: ITS shares have surged about 80% over the past two months, rising from 90 sen to a high of RM1.61 last Friday and are now overbought. The stochastics momentum index gave a sell signal yesterday but this could not be confirmed as it is still trending above the bullish line. Nevertheless, prices may consolidate in the near term with support seen at RM1.49. An immediate hurdle would be RM1.65 and the next overhead resistance is at the RM2 mark. 

    For latest Khee San share prices and charts click here

     

  • Meda Inc: THIS stock was locked in a rectangular chart pattern, hovering between the 27.5 sen support line with an upside capped at the 38.5 sen level since late October last year. The moving-average convergence/divergence indicator and the signal-line were flat in the negative territory, suggesting that prices may continue to build a base at the current band. As prices are now trading near the bottom, the share may move towards its upper resistance in the near term. 

    For latest Meda Inc share prices and charts click here

     

  • Pos Malaysia: FORMERLY known as Phileo Allied Bhd, a long bear move dragged this stock to a low of RM1.13 on Feb 27, its lowest level since July 1993. The moving-average convergence/divergence remains trending sharply below its signal-line to stay bearish but may recover gradually as the stochastics and the 14-day relative strength index are in extremely oversold territory. Near-term support and resistance is seen at RM1 and RM1.26 respectively. 

    For latest Pos Malaysia share prices and charts click here

     

     

  • The comments above do not represent a recommendation to buy or sell.
  • For latest Khee San share prices and charts click here

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