Sunway Construction Group Bhd
, which has been trading sideways over the last three weeks, is showing early signs of bullish momentum to break free of the range-bound movement.Yesterday, the share peaked above the 14-day simple moving average (SMA), as the technical indicators showed growing positive momentum.
The slow-stochastic is at 46 points, advancing towards the 50-point mark, while the 14-day relative strength index (RSI) is robust at 70 points.In the event of a breach of the recent RM2.28 high, the share could take off towards a higher resistance of RM2.64.
Support for the share is found at RM2.15 and RM2.
CEKD Bhd has managed to stay afloat after bouncing off the 14-day SMA line to achieve its highest closing in six months.The counter, however, remains trailing a recent trading high of 51.5 sen, which in crossing should take the stock to a higher target of 55 sen.Trading volume on the counter yesterday stood at a weekly high suggesting growing buying interest.
The slow-stochastic rose to the 45-point line while the RSI climbed to 69 points and the daily moving average convergence/divergence (MACD) line charted a higher positive bar.
Support for the counter is pegged to 46.5 sen and 43 sen.
Dayang Enterprise Holdings Bhd, which has been on a tear since bouncing back from a correction in early December 2023, has broken through a recent high of RM1.97.In crossing the hurdle, the bulls are expected to roam higher to a multi-year high of RM2.56 and RM3. The technical indicators are flashing overbought conditions given the ongoing rally, although they remain in bullish mode.
The slow-stochastic sits at 86 points while the RSI has risen to 79 points and the MACD histogram is extending another higher positive bar.
Support lies at RM1.69 and RM1.59.
The comments above do not represent a recommendation to buy or sell.
