Adventa
recovered slightly from a near 16-month low of 76 sen on Jan 12 to trade range-bound on consolidation. Technically, indicators are improving, suggesting a firmer trend in the short-term. A decisive break above the 200-day simple moving average of 96 sen may lead to a re-test of the historical peak of RM1.34 while initial support is resting at the 83 sen-86 sen range.
Asian Pac Holdings traded slightly above the most recent low of 24 sen amid bargain hunting interest. The immediate resistance is seen at the 30-sen mark. The next upper strong hurdle is expected at the 35-sen level, of which a clear penetration would signal the resumption of a recovery process, en route to the 44 sen-45 sen band. Current support is anticipated at 23.5 sen.
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