Hibiscus Petroleum Bhd
is recovering from losses recorded earlier in the month as it attempts to return to a recent high of RM2.74.
There is growing momentum in the technical indices, including in the slow-stochastic, which is fast approaching the 50-point midline.
The daily moving average convergence/divergence (MACD) histogram is also on the verge of turning positive since turning negative at the end of February.Meanwhile, the 14-day relative strength index (RSI) is close to triggering a bullish signal as it approaches the 50-point level.
Support for the share is pegged to the recent low of RM2.46 and RM2.34.
Central Global Bhd is ready to resume its upward trend after having fallen off a perch last week. The share showed bullish momentum yesterday after idling over the past three sessions, while an increase in turnover indicated a return of investor interest.
The slow-stochastic made a positive crossing to give a “buy” signal while the MACD histogram chalked up a higher positive bar. The RSI remained strong at 66 points.
A continuation of the buying interest will see the share reclaim its trading high of 88.5 sen while support can be found at 73 sen and 60 sen.
Kerjaya Prospek Group Bhd could soon move past its recent high of RM1.82 as it regains upward momentum.Given the bullish outlook on the daily price chart, it could return to a multi-year high of RM2.19.
The technical indicators are looking robust with the slow-stochastic coming close to crossing into overbought levels at 78 points but remaining upright.
The RSI is also strong at 59 points while the MACD histogram turned positive on Wednesday and lengthened the bar yesterday.
Support can be found at RM1.61 and RM1.41.
