Dufu Technology Corp Bhd
rebounded strongly yesterday, which put an end to the share’s correction phase.
Given the surge in the positive momentum and trading volume, the share can been seen returning to a recent high at RM2, en route to a higher level at RM2.60.
Looking at the technical indices, the slow-stochastic has spiked up to 52 points, passing the 50-point midline.
The 14-day relative strength index (RSI) is strong at 63 points, while the daily moving average convergence/divergence (MACD) histogram is showing the start of a reversal to a positive trend.
Support for the share is pegged to RM1.69 and RM1.50.
Capital A Bhd has extended its rally to the RM1 level on renewed buying interest.
On the price chart, the 50-day simple moving average is on the verge of crossing the 200-day to affirm the positive trend.
The resistance levels are seen at RM1.02 and RM1.09, which represents an 11-month high.
The positive momentum is building up, going by the slow-stochastic, which has risen to 63 points and the RSI, which stands at 71 points.
The MACD histogram also remains on a growth trajectory, reflecting the ongoing bullish trend.
Support for the share is pegged to 92 sen and 86 sen.
Kelington Group Bhd has bounced off the 50-day SMA line following the previous day’s sharp fall.
A consolidation phase is expected to ensue for the immediate term. However, should the support hold, the share is looking to return a historical closing high of RM5.84, and resume its upward trajectory.
The technical indicators have stumbled since the profit-taking began two weeks ago but there are signs of recovery with the slow-stochastic rising upward from 36 points and the RSI also curving higher at 45 points.
Below the 50-day SMA, support for the share can be found at RM4.60 and RM4.22.
The comments above do not represent a recommendation to buy or sell.
