Careplus
Careplus Group Bhd
is seeing some consolidation pressure following a recent strong rally, but has developed a bullish bias.
On the daily price chart, the share price has crossed the 50-day simple moving average (SMA) to take on strong bullish sentiment.
Overhead, the stock could be looking to take out the 100-and 200-day SMA lines and approach a fresh resistance at 40 sen.The daily moving average convergence and divergence (MACD) line has crossed into positive territory to indicate an uptrend while the slow-stochastic and relative strength index (RSI) have taken on bullish momentum above 60 points.Support for the counter is found at 30 sen and 23 sen.
IOI Properties
IOI PROPERTIES Group Bhd attempted to make a fourth straight day of gains yesterday but ended flat as profit-taking ensued in the afternoon session.Should it cross the immediate resistance of RM1.18, the stock will make it way towards a higher resistance level RM1.33.On the technical indices, the MACD has signalled a return to an uptrend as it spiked sharply into positive territory.The slow-stochastic and RSI are showing overbought levels but the positive momentum is expected to continue.For support, the stock is looking at RM1.08 and RM1.
Toyo Ventures
Toyo Ventures Holdings Bhd clambered above the 14-day SMA line in intraday trade yesterday as it attempted to recover from recent profit-taking pressures.Should the stock surpass its recent high at RM1.67, it would resume its rally to November 2021 levels of trading.Next resistance is seen at RM1.85.The technical indices looks robust with the slow-stochastic at 66 points and the RSI at 52.The MACD is yet to make a bullish turn towards the signal line, which in crossing would see the onset of strong positive momentum.Support is pegged to RM1.25 and 92.5 sen.
The comments above do not represent a recommendation to buy or sell.
