LPI Capital Bhd
extended its rebound for a fourth consecutive day yesterday as it sought to return to a recent peak of RM12.90.
The share, which underwent a sharp decline on March 11, has been retracing its losses on rising momentum.
Looking at the technical indicators, the slow-stochastic has some neutralisation pressure pulling it lower, while the RSI is strong at 51 points.
The MACD histogram is yet to chart a positive bar, but is headed in the right direction. Support for the share is found at RM12.12 and RM11.82.
Tomei Consolidated Bhd gapped up yesterday to rival a recent high of RM1.47.
Should it cross the resistance, the share would find itself on course to approaching the RM1.88 mark last seen traded on Aug 11, 2020.
There is robust sentiment on the technical indices wih the slow-stochastic approaching the midline at 48 points and the 14-day relative strength index (RSI) looking robust at 64 points.
The daily moving average convergence/divergence (MACD) histogram has charted a higher positive bar to indicate growing momentum.
Support for the share is pegged to RM1.35 and RM1.25.
MSM Malaysia Bhd is continuing its winning ways after chalking up a seventh straight day of gains on the price chart.
The share has been on an uptrend over the last five months, and is expected to continue the bullish trend to a resistance of RM3.20 and RM4.Looking at the technical indices, the positive trend is expected to remain intact although the slow-stochastic and RSI have hit overbought levels.
The MACD charted a higher positive bar for a third day, indicating growing positive momentum. Support, meanwhile, is pegged to RM2.60 and RM2.20.
