Dialog Group Bhd
broke free of a sideways trading pattern on Monday, giving the bulls room to roam as it reaches for a higher target at the RM2 level.
The stock is looking promising as it’s technical indicators reach into strong levels of bullish momentum.
The slow-stochastic is nearing overbought conditions at 77 points. The 14-day relative strength index (RSI) is also positive as it rises to 69 points while the daily moving average convergence/divergence (MACD) histogram spiked higher to signal a bullish trend.
There is further resistance at the RM2.33 level while support is pegged to RM RM1.70 and RM1.38.
Leong Hup International Bhd is making its way back to a stiff resistance of 66 sen, which has remained unbroken for nine months.
As the share edges closer to the resistance, it remains at risk of consolidating at that level given the overbought conditions of the technical indices.
The share’s RSI has hit 79 points, but remains rising in extended bullish mode, while the slow-stochastic has neutralised slightly to 67 points.
On the MACD histogram, the bullish momentum is seen picking up with steadily rising positive bars.
Should the resistance be taken out, the share could rise to a higher target of 77.5 sen. Support in the event of consolidation rests at 62 sen and 58 sen.
Eco-Shop Marketing Bhd has been on a steady ascent above the near-term 14 and 21-day simple moving averages, although the rally has been seen taking a breather in recent days.
The technical indices are painting a promising picture with the slow-stochastic sitting at a robust 64 points and the RSI gaining at 58 points.
While there has been some consolidation pressure capping the stock’s gains in recent days, it remains within striking distance of its all-time trading high of RM1.39.
A fresh catalyst to boost trading interest could see a breach of the resistance, which would trigger the resumption of a rally.
Support for the share is found at RM1.31 and RM1.26.
The comments above do not represent a recommendation to buy or sell.
