BASED on the daily price chart, SIG Gases Bhd (code: 5181) has had an overall positive year with regard to its share price, growing nearly 200% year-to-date. It then travelled in range-bound trading for about a month before finding its legs again and resuming upwards movement. By yesterday, it had hit an intra-day high of RM1.23, within striking distance of the next resistance at RM1.26. However, given the counter’s overbought conditions, some investors looked to cash in on the gains, leading to a fall in the share price. Immediate support for the share price is pegged at the RM1.10 with the next support resting at RM1.

Source: The Star December 22, 2017 21:11 UTC