Supportline


Tasco Bhd is attempting to break loose from the 50-day simple moving average (SMA), which in doing could result in significant upsides.The share price hit a high of RM1.07 yesterday, which serves as the upper limit to the range-bound channel that began in early March. A convincing breach of this hurdle could see the stock attempt to advance towards the historical peak of RM1.47 acheived on Feb 11.

It would take further buying interest to propel the share price forward as the slow-stochastic can be seen edging lower after ramping up past 70 points. The other indicators however remain bullish with the RSI continuing to rise at 68 points.

Support for the stock is found at 89 sen and 82 sen.

PCCS Group Bhd came within striking distance of a recent peak in yesterday trading.The stock, which formed a short-term uptrend since end-February looks set to reclaim its previous perch at 57.5 sen and resume an uptrend. The next price target sits at 62.5 sen, which represents a five-month high for the counter.

The technical indicators are in order with the slow-stochastic growing more bullish above 40 points and the 14-day relative strength index rising on strong momentum to 67 points. Support is pegged to 51.5 sen and 48.5 sen.

HPMT Holdings Bhd is holding on to robust momentum despite trading at all-time highs. Yesterday, the stock flirted with its historical intra-day peak of 67 sen, a crossing of which would take it to uncharted territory.

Despite yesterday’s decline, there remains an opportunity to break higher given ongoing bullish momentum.

The slow-stochastic remains rising below overbought levels at 75 points while the RSI remains afloat in overbought conditions. The MACD is extending its lead over the signal line to suggest growing positive momentum

Support for the stock lies at 56.5 sen and 51 sen.

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TASCO Bhd , PCCS GROUP Bhd , HPMT HOLDINGS Bhd ,

   

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