BOC approaches chart supports

BOC shares closed on the CSE at CYP 4.49 while on the ASE, the shares closed at EUR 7.88 or CYP 4.53 on Tuesday, indicating more sideways trading and possibly some consolidation ahead of a rebound following the fantastic set of first quarter results reported last week.

BOC is correcting lower towards the first support line of 4.45, break of which will lead the shares to major support at 4.17/4.19. A break above 4.65/4.77 is now required to reinstate the up-momentum for next target of 5.00.

RSI: 60.17 5-day: 4.64 10-day: 4.58 30 day: 4.24

Supports: 4.45, 4.29, 4.17 Resistance: 4.64, 4.77, 5.00

S/Term: Negative M/Term: Positive L/Term: Positive

CPB is starting to form a new triangle formation, with the upper boundary at 2.98/3.00 and the lower boundary at 2.72 for this week. More support is seen at 2.55 to 2.60, which is seen as the base area for the shares.

RSI: 55.41 5-day: 2.93 10-day: 2.93 30 day: 2.72

Supports: 2.72, 2.60, 2.55 Resistance: 2.93, 3.00, 3.06

S/Term: Negative M/Term: Positive L/Term: Positive

HB was unable to maintain its sharp gains above major res. line at 1.31 leading the stock to correct lower, which is now targeting a move to 1.22 with more support seen at 1.08 holding the downside.

RSI: 62.36 5-day: 1.34 10-day: 1.31 30 day: 1.10

Supports: 1.22, 1.13, 1.08 Resistance: 1.32, 1.37, 1.46

S/Term: Negative M/Term: Positive L/Term: Positive