Support Line

AHB Holdings hit a high of 27 sen on Tuesday, the best since April 2007, before pausing for a breather. Technically, prices are expected to consolidate due to growing overbought reason but investors can consider accumulating more on weakness, as other indicators remain bullish. Stronger support and heavy resistance are resting at the 20-sen mark and 36.5 sen-40 sen band respectively.

PARKSON Holdings reversed from Tuesday’s nine-month peak of RM3.17 to close easier owing to an apparent profit-taking activity. Apparently, the curving down pictogram of the stochastic and the 14-day relative strength index from the top suggest prices may correct in the short term, with solid support resting at the RM2.91 floor. Stiff overhead resistance is seen at the RM3.47 barrier.