Thursday August 9, 2012
By K.M. Lee
AFFIN Holdings retraced slightly from the 12-year high of RM3.79 on July 19 to trade range-bound. With the moving average convergence/divergence histogram continuing to slide, it may stay in correction mode. Initial support is envisaged at the RM3.50 level. A push above the recent peak would signal the resumption of an uptrend.
LATEXX Partners recovered to a five-month high of RM1.80 late last month before turning sideways. The moving average convergence/divergence indicators remain positive, implying the stock is likely to climb after undergoing a round of healthy consolidation, targeting the RM2 mark and RM2.12 later. Solid support is pegged at the 200-day simple moving average of RM1.65.
PLENITUDE was generally trapped after bottoming out at RM1.80 in early June. A breach of the 200-day simple moving average of RM1.96, followed by the RM2 barrier, may see a turnaroud in fortune. In the case of a breakdown, look for the RM1.67-RM1.68 range as support.