Chin Hin
Chin Hin Group Bhd
moved past the 14-day simple moving average (SMA) yesterday as it maintained its rebound towards a February high, which also represents its all-time high.
Given the dominant bullish trend and strong positive momentum, the share looks likely to reclaim its peak and chart even higher.
Looking at the technical indicators, the slow-stochastic is resting at 77 points while the 14-day relative strength index (RSI) is bullish at 58 points.
The daily moving average convergence and divergence (MACD) line is curving higher towards the signal line, which in crossing, would signal a bullish rally.
The stocks' resistance is pegged to RM4.30 while support lies at RM3.50 and RM3.
Jaya Tiasa
Jaya Tiasa Holdings Bhd is rebounding after three straight days of decline.
As the stock remains supported by an ascending trend line, it is expected to maintain its upward trajectory and cross above the recent high of 72 sen.
In the event of a successful crossing, the share could target the higher resistance of 86 sen.
The technical indicators are showing recovery with the slow-stochastic curving higher at 27 points and the RSI rising to 60 points, while the MACD remains above the signal line.
Support is found at 65 sen and 60 sen.
Genting
Genting Bhd has been trading in range since undergoing a correction in the third week of February.
While the stock has found support in the form of the 200-day SMA line, it is facing downward pressure from the falling short-term SMAs.
The technical indicators remain mixed as the slow-stochastic has risen to more bullish territory at 54 points although the RSI remains weak at 39 points.
Overhead, the stock is aiming to cross the 50-day SMA and approach a resistance at RM4.80 to shrug off consolidation pressures.
Support for the share is pegged to RM4.57 and RM4.36.
The comments above do not represent a recommendation to buy or sell.
