G. Plus: G. PLUS traded range-bound on profit taking alternated with bargain-hunting interest yesterday. Apparently, the stochastic is tentatively curving up from the mid-range while the moving average convergence/divergence indicator is expanding positively against the signal line, implying that a rally may be on the cards. If prices can successfully clear the RM1.14 hurdle, the next stop will be the RM1.40 level.
MBSB: MBSB reversed earlier gains to close one sen lower at RM1.49 on profit taking yesterday. The moving average convergence/divergence indicator still is trending below the signal line to retain a sell call. However, the mending of the stochastic momentum index from the oversold territory suggests there is potential for a technical rebound, probably to the recent peak of RM1.76 in the near-term. Initial support floor is at RM1.39.
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