BOUSTEAD HOLDINGS dropped to a 15-month low of RM3.66 on extended selling pressure yesterday. Apparently, the moving average convergence/divergence histogram is trending sharply below the signal line, signifying the prevailing trend is overwhelmingly bearish. However, the very oversold position of the stochastic momentum index and the 14-day relative strength index offer investors hope for a temporary respite soon. Support is expected at RM3.50, but a breakdown may drag the shares to the RM3 mark in the near-term. Initial resistance is seen at RM4.
BSTEAD : [Stock Watch] [News]
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