Boilermech Holdings
BOILERMECH Holdings dropped to a low of 87 sen during intra-day session, the worst since October 2013 amid persistent liquidation pressure following a breakdown recently. Although the single-digit reading on the stochastic suggests very oversold condition, offering hopes of a relief recovery in the short term, the upside appears limited, with the moving average convergence/divergence (MACD) histogram painting a overwhelming bearish pictogram. Prices will encounter stiff resistance at the 97 sen-98 sen band while support is seen at the 75-sen floor.
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