Greatech Technology Bhd
may have finally found its footing after its share price embarked on a correction four weeks prior. The decline, which erased all the headway made in December 2023, saw the share slipping below the 200-day simple moving average on Tuesday.
However, yesterday's rebound saw the share firming up above the 200- and 100-day simple moving average (SMA) lines. The technical indicators, which had descended into oversold levels, were seen neutralising.
The slow-stochastic has crossed to 25 points while the 14-day relative strength index (RSI) has bounced higher to 44 points. While weak, the share could continue retracing higher, with resistance levels resting at RM4.84 and RM5.08.Support can be found at RM4.45 and RM4.15.
LPI Capital Bhd has been moving in a sideways trajectory after its rally halted in mid-January. However, the share's short-term uptrend remains intact.
Following yesterday's performance, the share could be attempting to resume its climb by making its way to the recent high of RM12.60.In crossing this hurdle, the share would be targeting a one-year high of RM13.10.The slow-stochastic is gaining in momentum at 40 points while the RSI remains robust at 65 points.
There is support at RM12.36, although a negative crossing could see a sharper descent towards RM11.83.
Genting Bhd is creeping higher towards a recent trading high of RM5.02, which in crossing would see it hit a one-year high of RM5.12. Based on the daily price chart, the share is leading its key SMA lines on a positive trajectory.
On the technical indices, the slow-stochastic has crossed the overbought line at 84 points while the RSI remains strong at 64 points. The daily moving average convergence and divergence histogram continues to extend higher positive bars, indicating growing bullish momentum.
Support lies at RM4.57 and RM4.01.
The comments above do not represent a recommendation to buy or sell.
