SupportLine: Prolexus, Unisem, Dataprep

Prolexus Bhd advanced for a second straight day yesterday, crossing the 200-day simple moving average (SMA) in intra-day trading.The recovery on the stock’s price chart continues to pick up as it attempts to retrace the correction that took place in the last week of June. Further progress could remain capped by the 200-day SMA although a breach of the resistance would see the share price head towards a higher target of 68.5 sen.

The stock sees support at 60 sen, and lower at 55 sen.

On the technical charts, the slow-stochastic is pacing higher at 70 points while the 14-day relative strength index is looking strong at 62 points.

Unisem (M) Bhd is facing some resistance from the descending 100-day SMA overhead as it attempts to break out of its range-bound channel.

Following a share price advance on Monday, the stock seems to have lost steam and remains caught within a consolidation made.

However, in the event of a convincing breach of the RM7.72 resistance, there could be further upside for the share price.

A continuation of the rally should see the stock rise towards a higher resistance of RM8.53.

On the lower end of the chart, support is pegged to RM7.20 and RM6.70.

The slow-stochastic is overbought and flattening out at 88 points, reflecting growing consolidation, while the 14-day RSI remains healthy at 68 points.

Dataprep Holdings Bhd saw strong profit-taking pressure yesterday as it descended below the 50-day SMA.

The stock is currently displaying signs of consolidation below the moving average, which signals a pause in the uptrend for now.

Overhead, the stock is facing resistance at RM1.46 and RM1.93.

Given the recent selling, the stock has subsided from overbought levels but continues to display reasonable levels of positive momentum.

The slow-stochastic has neutralised but remains robust at 77 points while the 14-day RSI is tapering its growth at 55 points.

Support for the counter is found at RM1.28 and RM1.

The comments above do not represent a recommendation to buy or sell.
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