Dutch Lady Milk Industries Bhd
rose for a fifth straight day yesterday on a boost of positive momentum that affirmed the crossing of the 200-day simple moving average (SMA). On the back of robust momentum, the counter is looking to tackle a nine-month resistance of RM26.83, which in crossing would see it rise to RM30.35.
The technical indicators are looking strong with the slow-stochastic and 14-day relative strenght index (RSI) rising deep into overbought territory, indicating a period of neutralisation in the offing.However, the strong uptrend is expected to continue.
On the lower end, the chart is seeing support at RM21.41 and RM20.22.
Hartalega Holdings Bhd is maintaining its recovery trajectory above the 14-day SMA line and has surpassed a recent trading high of RM2.86. The breach of the immediate resistance could see it attempt a climb towards RM4.16.
The slow-stochastic has made a "buy" signal and is looking strong at 63 points while the RSI is also robust at 67 points, suggesting further bullish developments coming.
The daily moving average convergence/divergence (MACD) histogram, meanwhile, has extended another positive bar to suggest growing momentum.Support for the share is found at RM2.58 and RM2.29.
Apex Healthcare Bhd surged past the 200-day SMA line yesterday on its highest trading volume in over four months.The share is angling for a resistance of RM2.67, a breach of which would see it ascend to a target of RM2.77.
Looking at the technical indicators, the momentum is taking off with the slow-stochastic and RSI entering overbought conditions, with no signs yet of turning back.The MACD line has also raised its head for a sharply higher bar on the histogram.
Support is pegged to RM2.34 and RM2.19.
The comments above do not represent a recommendation to buy or sell.
