Support Line

MEXTER Technology shares hit a new 12-year high of 33 sen during intra-day session amid fresh buying momentum following a brief correction recently. Apparently, the stochastic momentum index had indicated a mild curving down sign near the overbought area but in stark contrast, other short-term indicators remained bullish, implying investors can consider accumulating more on dips. A breach of the 35 sen hurdle will propel prices up to the 40 sen-45 sen band. The next upside objective will be to fill a moderate gap at the 62 sen-68 sen area while support is pegged at the 28 sen and the 27 sen level, which is the 14-day and 21-day simple moving average respectively.

T7 Global recovered to a four-month high of 46.5 sen during intra-day session amid fresh bargain hunting interest. Based on the daily chart, prices had penetrated the mid-term mid-term declining trendline, signaling a bullish turnaround. Another decisive positive breakout of the upper 49 sen barrier will further raise investors optimism of the trend going forward. The immediate target is anticipated at the 60 sen mark and the upper heavy resistance is expcted at around the 80 sen area. Initial support is envisaged at 39 sen and important floor is resting at the 36.5 sen, which is the 200-day simple moving average line.