SUCCESS Transformer surged for the second straight session amid fresh bargain hunting yesterday. The MACD indicator is still in buy mode. This, together with curving up pictogram of the stochastic from the neutral zone, suggest a potential rally. Current support and strong overhead resistance are anticipated at 91 sen and RM1.05 respectively.- 6-May-08
Daibochi
DAIBOCHI recovered sharply on persistent bargain hunting interest, rising from the recent bottom of 40 sen on Feb 20 to a nine-month high of 76.5 sen during intra-day session yesterday. The MACD indicator is decisively bullish. Hence, any correction in the immediate term owing to overbuying is viewed as an opportunity. Firm support is seen at 67 sen while resistance can be expected at the 80 sen mark, followed by 89 sen.- 6-May-08
Berjaya Corp
BERJAYA Corp shares turned range-bound on consolidation after recovering from the recent low of 92 sen on March 10. Although the stochastic is curving up from the neutral zone, the moving average convergence/divergence (MACD) indicator and the 14-day relative strength index were flat, indicating an extended sideways pattern in the immediate term, with initial support pegged at RM1.06. A positive breakout of the RM1.21 level will increase volatility to the upside.- 6-May-08
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