SKP Resources Bhd
extended its rally yesterday to affirm the continuation of a bullish trend.
The share, which has risen over four consecutive sessions, has showing positive signals from its technical indicators.
The slow-stochastic index and 14-day relative strength index (RSI) have entered into overbought territory but remain healthy given the persistent buying interest.
The daily moving average convergence/divergence (MACD) histogram, meanwhile, has charted a higher positive bar to reflect the growing uptrend.
Overhead, the share is looking at resistance levels at RM1.31 and RM1.74, while support can be found at 83.5 sen and 66 sen.
Crescendo Corp Bhd is suggesting resilience as it returned to a recent high yesterday. It is poised to rise further.
The share has been on a rally since mid-March this year to reclaim multi-year highs.
The technical indicators are looking bullish with the slow-stochastic rising at a strong 63 points and the RSI staying afloat in overbought levels at 77 points.
The MACD histogram continues to chart positive bars to indicate the positive trend remains intact.
Given the share’s persistent rise, it could be headed towards resistance levels at RM4.10 and RM5.
Support, meanwhile, is pegged to RM2.84 and RM2.41.
Apex Healthcare Bhd rose yesterday to a fresh historical high as the buying momentum picked up over the past week.
In crossing the RM3.16 trading peak set on Feb 19, 2024, the share is poised to continue the rally further into uncharted territory.
Looking at the technical indices, the slow-stochastic and RSI have hit overbought conditions but remain healthy while the MACD histogram is indicating a growing positive trend.
On the lower end of the chart, support is pegged to RM2.85 and RM2.50.
The comments above do not represent a recommendation to buy or sell.
