Support Line

Astino reversed from an early all-time high of RM1.86 to RM1.82 owing to an apparent profit-taking. Technically, this stock is overbought – prices are likely to correct in the short term, but investors can consider accumulating more on weakness, as other indicators still are positive. Solid support is pegged at the 14-day simple moving average of RM1.69.

MULPHA International recovered to a near 14-month high of 49 sen during intra-day trading on renewed bargain hunting interest. Based on the daily chart, shares may face stiff resistance at the 62 -sen barrier, followed by the 70-sen mark, of which a major breakout would see the bulls becoming more aggressive. Initial support is lying at the 44-sen floor.