MIKRO MSC tested the five-day old all-time peak of 39.5 sen during intra-day session amid fresh bargain-hunting interest. Technically, the moving average convergence/divergence (MACD) histogram is positive, implying the bulls are likely to explore uncharted territory in the short term. Initial support is seen at the 35-sen level and solid floor is pegged at the 50-day simple moving average of 32 sen.
Ni Hsin
Resources climbed to a new all-time high of 50 sen last Friday before pausing due to profit-taking activity. Apparently, the curving down pictogram of the stochastic from the overbought area suggests correction in the short term, with immediate support at the 45-sen mark. The lower support is resting at the 36.5-sen line.
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