SupportLine Fong Min Yuan

Astro Malaysia

Astro Malaysia Holdings Bhd remains caught in a consolidation phase, as it remains under pressure by the 200-day SMA. However, there are signs of further recovery in the stock, as the momentum continues to grow on the technical indicators. The slow-stochastic has risen to 64 points while the RSI stands at 59.

As the daily moving average convergence/divergence line has risen to the signal line, a positive crossing could potentially give the share price a push past the immediate resistance. Resistance is found at 74 sen while next resistance is spotted at 87 sen. Support is found at 62 sen and a historical low of 57.5 sen.