Support Line

 

Asian Pac Holdings rose for the third straight session, pushing prices to as high as 23 sen during intra-day trading, the best since November 2015. For now, the moving average convergence/divergence histogram (MACD) resumes the upward expansion against the signal line to keep the buy call. Also, the stochastic and the 14-day relative strength index (RSI) firm steadily towards bullish territory. Prices are poised to sustain the upward thrust in the immediate term. Initial resistance is expected at the 25-sen mark and a breach of the next upper hurdle of 30 sen will lead to a re-test of the previous rally peak of 35 sen. On the opposite, a crack of the 20-sen support line will spell more downward pressure on correction.