Business

Tuesday February 10, 2009

Support Line


RENEWED buying interest pushed Eastern Pacific Industrial Corp shares above the 100-day simple moving average (SMA) of RM1.02 for the first time in eight months last Friday. Based on the daily bar chart, prices will find some resistance at the RM1.10 level. If they can overcome this barrier over the next few days, the fortune of this stock will be much brighter and the next upside objective will be the 200-day SMA, resting at RM1.40. Support is pegged at RM1.

 
EPIC :  [Stock Watch]  [News]

LANDMARKS fell to a near four-year low of 73.5 sen on Feb 4 before pausing amid mild bargain hunting. The moving average convergence/divergence (MACD) indicator appears bearish, trending sharply below the trigger line. However, prices may stage a technical rebound in the immediate term, given that the stochastic momentum index and the 14-day relative strength index are curving up from the grossly oversold area. Initial support and resistance are seen at 70 sen and 85 sen respectively.

 
LANDMRK :  [Stock Watch]  [News]

PERSISTENT bargain-hunting buying lifted MMC Corp shares to close at a two-month high of RM1.48 last Friday. Technically, the MACD indicator is bullish but whether the current uptrend continues or not, will depend on its fate at the 100-day SMA, which is resting at the RM1.60 level. A crack above the said line will trigger a strong buy, paving the way for prices to test the 200-day SMA monster resistance of RM2.20 in the medium term. Support is seen at RM1.40.


MMCCORP : [Stock Watch] [News]

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


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