Supportline

Hibiscus Petroleum Bhd is poised to cross above its recent high of RM1.24, to return to a rally.

Given the robust positive momentum on the technical indices, the share price looks likely to surpass the hurdle in the coming session and embark on a continued rally.

The next resistance levels can be seen at RM1.30 and RM1.38, representing a return to a multi-year high.

Meanwhile, the slow stochastic is robust at 85 points, while the RSI has risen to 65 points.

The daily moving average convergence/divergence line is sitting atop the signal line, reflecting the share price being on the verge of an uptrend.

Thong Guan Industries Bhd rose to the 50-day simple moving average (SMA) at its intraday high yesterday, enhancing the possibility of a breakout.

A crossing of the resistance would affirm the bullish momentum on the daily price chart, with the next resistance pegged to RM2.48. A positive breach could see the bulls roam higher towards the RM2.65 level.

The technical indicators are looking positive with the slow-stochastic rising to 80 points and the 14-day relative strength index (RSI) advancing to 66 points.

Support for the stock is pegged to RM2.30 and RM2.20.

Sports Toto Bhd crossed above a recent high of RM1.92 in intraday trade yesterday to affirm a bullish uptrend.

Another session of gains could see the share price sustain the advance to the next resistance pegged to RM1.99.

Given the recent bullish buying on the stocks, the short-term SMAs have turned higher, indicating growing momentum for the stock.

The slow-stochastic and RSI are seen at robust levels of 68 and 73 points, respectively.

Support levels are found at RM1.84 and RM1.78.

The comments above do not represent a recommendation to buy or sell.