Support Line

  • Business
  • Thursday, 20 Aug 2009

AFTER peaking temporarily at the 26-month high of RM3.54 on Aug 12, KPJ Healthcare traded range-bound yesterday on consolidation due to mild profit taking. Although the stochastic is curving up from the neutral zone, the moving average convergence/divergence histogram remains in “sell” mode. Against the mixed backdrop, prices are likely to extend sideways until a clearer picture emerges. Support and strong resistance are envisaged at RM3.16 and RM3.62 respectively.

  KPJ :  [Stock Watch]  [News]

PROTON retraced from the recent top of RM3.07 on Aug 11 to a low of RM2.78 on Tuesday before staging a rebound on renewed bargain hunting interest yesterday. Apparently, the uptick in the pictogram in the stochastic and the 14-day relative strength index offer hopes of more recovery. To the upside, prices are likely to face stiff resistance at the RM3.20 mark. Initial support is seen at RM2.84.

  PROTON :  [Stock Watch]  [News]

XIAN Leng recovered to a 14-month high of 59.5 sen during intra-day session before trimming gains to settle at 56 sen, up 1.5 sen yesterday. Based on the daily chart, this stock is on the mend and it looks like there are more upside potential in the near-term, with the technical indicators remaining positive. A break above the 66 sen barrier may propel prices to the 80 sen level. Support line is resting at the 50 sen to 51 sen band.

  XIANLNG :  [Stock Watch]  [News]

For latest Bursa Malaysia indices, charts and other information click here

For latest Bursa Malaysia indices, charts and other information click here

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