Business

Tuesday October 13, 2009

Support Line


BP Plastics Holding hit a 26-month high of 65.5 sen during intra-day session on follow-through buying momentum yesterday. Although the moving average convergence/divergence histogram retains the “buy” call, the tentative topping-out sign on the stochastic at the overbought area suggest prices may correct soon, with initial support anticipated at the 60-sen mark.Resistance is expected at the 75 sen-to 76 sen-band, followed by the 88-sen level.

 
BPPLAS :  [Stock Watch]  [News]

GREEN Packet shares gained for the fourth consecutive day amid continuous nibbling acitivity yesterday. Technically, the moving average convergence/divergence indicator, the stochastic and the 14-day relative strength index are painting a promising pictogram, implying prices are likely to scale on extended bullish mode. A push above the 90 sen level will open the windows for a re-test of the recent peak of RM1.13. Support is pegged at the 78.5 sen line.

 
GPACKET :  [Stock Watch]  [News]

AFTER a short breather, Hong Leong Financial Group shares appeared to be making a strong recovery on fresh bargain hunting interest yesterday.

Based on the daily bar chart, prices may encounter significant resistance at the RM6 psychological level, of which a decisive clearance is likely to propel them to the RM6.50 mark in the near term. Solid support can be expected at RM5.67.


HLFG : [Stock Watch] [News]


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

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