Support Line

Ajiya shares were inching up on renewed bargain hunting interest after undergoing a brief correction process. Apparently, indicators are positive, suggesting a steadier trend ahead. The immediate resistance is expected at the RM4.01 barrier, of which a successful breach would signal the resumption of an upward thrust, enroute to the RM4.20 mark. The next upper heavy resistance is anticipated at the RM4.40-RM4.50 band. Current support is lying at the RM3.74-level and an important floor is pegged at the RM3.67-line.

KOMARKCORP reversed from an early two-week high of 44 sen to close slightly easier owing to an apparent profit-taking activity. Despite the lower close, the moving average convergence/diverge histogram retained the buy signal, flirting above the daily trigger line, implying there may be more upside in store. Initial resistance is seen at the 50-day simple moving average of 49.5 sen and strong challenges can be expected at the 53 sen-54 sen area. As for the downside, solid support is envisaged at the 33.5-sen floor.