Support Line


  • Business
  • Thursday, 19 May 2011

GREEN PACKET

GREEN Packet shares finished a tick higher to 75 sen, also the seventh straight advance in a row amid continuous bargain hunting interest yesterday. A decisive push above the 85.5 sen heavy resistance barrier will give investors the confirmation that the counter is indeed on the recovery path. Current support is expected at the 70-sen mark.

HO HUP CONSTRUCTION

HO Hup Construction gained for the third consecutive days, up 9.5 sen to 83.5 sen on follow-through buying yesterday. Technically, prices may scale in the short-term. If they can stage a major breakout of the 92 sen hurdle, the next logical upside to look for would be the RM1.20 level. The immediate support floor is pegged at the 74 sen-75 sen band.

Yinson Holdings

YINSON Holdings hit a high of RM1.23 during intra-day session yesterday, the best level since February 2000. Apparently, indicators still are painting a positive landscape, suggesting more scaling in the pipeline. A convincing breach of the RM1.40 mark is likely to propel prices to the RM1.65-RM1.66 band in the near term. Support is resting at the RM1.14-RM1.15 range.

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

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