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.
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