Support Line

  • Megan: PRICES staged a strong rebound over the past few weeks, rising from the RM1.59 level to cross the RM2 mark yesterday. Its moving average convergence/divergence indicator is on a steady up trend while the stochastics remained bullish, suggesting more upside potential in the days ahead. Mild resistance is at RM2.11 and strong challenge is seen at RM2.19–RM2.20 level. Current support would be RM1.95. 

  • Road Builder: THE share prices of this stock flirted with its 21-day moving average price line of RM2.84 in late trade while the moving average convergence/divergence indicator triggered a buy signal deep in the negative territory yesterday. Meanwhile, the hook up on the stochastics momentum index from the oversold position suggests that prices may have bottomed out after a long downtrend. Support and resistance are at RM2.74 and RM2.91 respectively. 

  • Tanjong: THIS gaming stock is on a gradual upward momentum, moving along a steady ascending trend line. While the 14-day relative strength index is trending up, the oscillator per cent K crossed the oscillator per cent D of the stochastics momentum index to trigger a buy signal last Friday, suggesting that prices may move higher in the immediate term but could encounter strong resistance at RM9.50. Support is seen at RM8.85. 


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

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