Poh Kong
Poh Kong Holdings Bhd
has seen a spike in buying interest in recent days, reflected in high recorded trading volume and a price jump at the start of the week.
The stock, which surged above the 50-day simple moving average (SMA) on strong bullish momentum, is now seeing some consolidation pressure following its recent rise.
This comes as mixed signals are beginning to appear on the technical indicators.
The slow-stochastic has slipped into a negative crossing at 60 points while the 14-day relative strength index (RSI) remains bullish at 64 points.
However, going by the bullish interest in the stock, the consolidation could be brief as the share shrugs off the profit-taking to ascend towards a resistance of 91 sen. Overhead, the stock could face higher resistance at RM1.
Support for the share is pegged to 80 sen and 77 sen.
YBS Internanational
YBS International Bhd extended its rally yesterday past the uppermost 21-day SMA as it picked up more positive momentum.
The slow-stochastic has risen to 55 points while the RSI is robust at 64 points.
The daily moving average convergence/divergence (MACD) line has picked up past the signal line and entered positive territory to indicate the start of an uptrend.
Going by these bullish developments, the share is looking ahead to a recent trading high of 73.5 sen and a higher resistance of 78 sen.
Support for the share is found at 55 sen and 50 sen.
MSM Malaysia
MSM Malaysia Holdings Bhd gapped up at the opening bell yesterday to challenge the 200-day SMA.
While failing to surpass the uppermost SMA line, the stock is showing signs of growing positive momentum.
The stock could signal a return to an uptrend if it should breach the 85 sen hurdle in coming sessions, and look higher towards a February peak of 90 sen.
There are promising developments on the technical indicators with the slow-stochastic rising to 63 points and the RSI advancing to 67.
Support is found at 73 sen and 67 sen.
The comments above do not represent a recommendation to buy or sell.
