Astro Malaysia
Astro Malaysia Holdings Bhd
remains caught in a consolidation phase, as it remains under pressure by the 200-day SMA. However, there are signs of further recovery in the stock, as the momentum continues to grow on the technical indicators. The slow-stochastic has risen to 64 points while the RSI stands at 59.
As the daily moving average convergence/divergence line has risen to the signal line, a positive crossing could potentially give the share price a push past the immediate resistance. Resistance is found at 74 sen while next resistance is spotted at 87 sen. Support is found at 62 sen and a historical low of 57.5 sen.
Tomei Consolidated
Tomei Consolidated Bhd gapped up on bullish momentum yesterday to its highest level since June 2021.The rally was accompanied by rising trading interest and a robust incline in the key simple moving average (SMA) lines, which is expected to support the growing uptrend.
On the technical charts, the slow-stochastic is coming closer to hitting overbought levels, but remains robust as it is poised to make the bullish crossing.
The 14-day relative strength index (RSI) is overbought at 76 points, but also remains ascending. Resistance levels can be found at RM1.49 and RM1.88 while support is pegged to RM1.16 and RM1.04.
Kronologi Asia
Kronologi Asia Bhd rose above its recent high yesterday to suggest further upside in the coming sessions.Based on the daily price chart, the key SMA lines are offering bullish support to the stock.
Following the 100-day SMA line’s positive crossing of the 200-day SMA in the final week of March, the stock has been looking at a longer-term positive trend.
The technical indices are also looking robust with the slow-stochastic at 73 points and the RSI at 65 points.
Resistance levels can be seen at 65 sen and 71 sen while on the lower end, support is found at 53 sen and 48 sen.
