Support Line


Careplus Group Bhd shares hit an all-time high of 60 sen on Oct 28 before pulling back slightly to trade range-bound owing to apparent profit-taking activity. However, the daily slow-stochastic momentum index is rising. Together with the moving average convergence/divergence histogram expanding upwards in tandem with the daily signal line, there may be more advances in store for this counter. A breach of the 60-sen barrier would send the bulls into unknown territory, while concrete support is pegged at the 21-day simple moving average of 51 sen.

CWORKS Systems Bhd mended to a seven-month high of 29 sen during the intra-day session amid fresh bargain-hunting interest. Based on the daily chart, prices had penetrated the mid-term bearish descending line of 28 sen, implying that the recent correction is over. Moving forward, they are expected to firm on follow-through buying, en route to the 33- or 40-sen mark in the immediate term. Important support is resting at the 100-day simple moving average of 27 sen, of which a crack may drag this stock back to its recent low of 16.5 sen.

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