Support Line


  • Business
  • Thursday, 16 Jul 2015

OCK Group tripped into correction mode since peaking out temporarily at an all-time high of RM1.07 on July 24 last year. Based on the daily chart, this stock will remain in consolidation phase as long as the near one-year-old bearish descending line, resting at the 91-sen level, is intact. The immediate support is anticipated at the 81-sen mark, followed closely by the 77-sen line.

SLP Resources shares were generally range-bound, undergoing a healthy consolidation after setting a new record of RM1.63 on July 2. Technically, the curving up signs on the daily slow-stochastic momentum index and the 14-day relative strength index suggests that the bulls are still alive and eager to explore unknown territory soon. Current support is seen at the RM1.47 level. An additional floor is set at the RM1.40 mark.

AFTER a month-long correction process, Visdynamics Holdings turned range-bound in an attempt to build up momentum for recovery. The trend ahead is pretty straight forward. A decisive breach of the stiff resistance of 33.5-34 sen band would open the window for a re-test of the recent high of 42.5 sen set on April 16. On the opposite, a clear breakdown from the 21-sen level may see the lower support of 18-sen and the 12-sen floor becoming vulnerable.

The comments above do not represent a recommendation to buy or sell.

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