SupportLine
Astro Malaysia Holdings Bhd bounced off a support yesterday to pace away from its historical low.

Having flirted with the 35-sen support several times this month, the share regained some buying interest and is looking to retrace some of its recent losses.

Resistance is seen at the 44 sen mark, which in crossing should take the stock out of its current weakness to aims for the 50-sen level. The slow-stochastic is slightly overbought at 81 points while the RSI remains strong at 56 points. The MACD histogram turned positive yesterday and is looking to extend a bullish trend.

ITMax System Bhd bounced to the top end of its consolidation channel yesterday.

The share’s positive momentum remains intact, which puts it on track to continue the uptrend and surpass the recent trading high of RM2.14.

Looking at the technical indicators, the slow-stochastic and 14-day relative strength index (RSI) remain robust at 66 and 77 points, respectively.

The daily moving average convergence/divergence (MACD) histogram remains positive and tracking higher.

Support for the share is found at RM1.95 and RM1.72.

Hume Cement Industries Bhd pushed higher for a fourth straight day yesterday, charting a higher high to affirm a continued uptrend.

The share, which currently outpaces the key simple moving averages (SMA), looks set to continue its bullish trend towards a resistance of RM3.41 and, higher still, to RM4.02.

The slow-stochastic is currently overbought at 87 points, but is expected to grow to more extreme conditions, while the RSI has also entered into overbought conditions at 71 points.

The MACD histogram remains negative but has turned its head higher to potentially chart a positive bar in the coming sessions. Support for the share lies at RM2.69 and RM2.34.
Support Line,Astro Malaysia,ITMAX,Hume Cement Industries
Astro Malaysia Holdings Bhd bounced off a support yesterday to pace away from its historical low.