Fiamma Holdings hit a high of RM2.36, the best since April 2000, before trimming gains slightly to close up three sen to RM2.34. Apparently, the moving average convergence/divergence histogram is looking good, implying more upside potential going forward. A break above the RM2.40 barrier would lead to a re-test of the historical peak of RM2.71 while support is resting at the RM2.15 line.
MARCO Holdings reversed from an early seven year highs of 26 sen to end slightly lower owing to an apparent profit-taking activity. Technically, there is still room for more climbing, as the moving average convergence/divergence histogram remains bullish. Stiff resistance is expected at the 30 sen-33 sen band. Initial support is pegged at the 19-sen floor.