Support Line


  • Business
  • Thursday, 28 Aug 2003

By K.M. LEE

Johor Port PRICES have been recovering over the past two weeks, rising from the RM1.84 level to hit a high of RM2.04 before mild profit-taking activity pared intra-day gains yesterday. The stochastics triggered a buy signal on Monday and the upward momentum on the moving average convergence/divergence suggests further recovery with mild resistance seen at RM2.08 and the next strong hurdle, at the RM2.15 level. Current support is at RM1.96. 

Stock watch on Johor Port 

PPB Group ON the rise since mid-March, this stock has carved out a strong ascending channel over the past few months and is still holding firm just below its most recent high of RM5.60 set last Friday. The stochastics and the moving average convergence/divergence remain bullish. If prices could break above their most recent high, they are likely to charge ahead with the immediate target seen at the RM6 mark. Support is pegged at RM5.30. 

Stock watch on PPB Group 

Rhythm THIS stock closed 12 sen lower at RM2.49 yesterday on heavy profit-taking in the late afternoon session Although the moving average convergence/divergence indicator continued to stay bullish, the downward momentum on the stochastics and the 14-day relative strength index suggests that this stock has now entered into consolidation mode after the recent strong gains. Immediate support and resistance is seen at RM2.25 and RM2.88 respectively. 

Stock watch on Rhythm 

 

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

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