Support Line

GREEN Ocean bounced off the onemonth low of 23.5 sen (now acting as immediate support) on Tuesday to achieve an intra-day high of 28.5 sen on fresh buying interest. Technically, it may inch higher on follow-through interest, with the stochastic ticking up from the oversold area, but the upside may be capped, probably at the recent peak of 38 sen. KBB Rresources scaled to its best level since July last year on extended buying momentum. The bulls must overcome the previous rally peak of 51.5 sen to avoid a “double-top” formation, enroute 68 sen. Otherwise, it is likely to correct in the short term due to the growing overbought condition. Crucial support is at 46.5 sen. MALAYSIA Airports gained for the second straight day, up from RM5.53 on Monday to a high of RM5.75 during intra-day session. The stock may extend its recovery on follow-through interest, with significant resistance expected at the 200-day simple moving average of RM6.03. Stronger support is at the RM5.40 level.

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