Support Line

APPASIA has been on a short-term uptrend for more than two months, culminating in a breach of the 39 sen resistance yesterday to hit 40.5 sen in intra-day trade, its highest level since April 2017. It is now aiming to test the next hurdle at 42 sen and the 45.5 sen peak after that, which is the all-time high. The stochastic index has been soaring of late, since a short-term “buy” signal in the last week of October, but may stay in bullish extended-mode. The immediate support is at 34 sen while solid floor is resting at the 31 sen level.

Benalec made a strong push above the immediate resistance of 43 sen yesterday and continued its ascent, reaching a high of 45 sen in intra-day trade. Strong resistance is at the 46 sen level, a successful crossing may see the stock climbing to the next upper barrier at 50 sen. The moving average convergence/divergence histogram has been moving along the neutral line but now shows some upward movement into positive territory. The stochastic is heading northward. Also, the 14-day relative strength index retains a strong posture. Support rests at 39.5 sen-40 sen.