WASEONG climbed 10.0 sen (7.94%) yesterday to reach a 30-month high of RM1.36.
The move showed strong buying interest as supported by the higher-than-average trading volumes coupled with the long white-candlestick formed.
The technical picture is positively biased, with “golden crossover” of key SMAs, coupled with uptrending display of MACD.
Share is in the midst of retesting its immediate resistance level at RM1.36 (R1). A decisive break above R1 will likely see further advancement towards RM1.50 (R2). Downside supports can be found at RM1.21 (S1) and RM1.13 (S2).
SUPERMX (Not Rated)
SUPERMX jumped 9.0 sen to RM 2.39 (3.9%) yesterday, accompanied by strong trading volumes.
Overall technical outlook is positively biased, with key indicators in positive states – i.e. “golden crossover” of key SMAs, and uptrending display of MACD.
From here, share is in the midst of retesting key resistance of RM2.38 (R1).
Keep close watch-out for coming few days, with decisive breakout of R1 to see likely movement towards RM2.54 (R2).
Downside support levels can be identified at RM2.22 (S1) and RM2.12 (S2).
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