Hartalega Holdings Bhd
is facing resistance from the 200-day simple moving average (SMA), but could make a move to overcome the hurdle in the coming days.
With momentum on the rise, the share could make a break out of the hurdle towards higher targets of RM3.18 and RM3.51.
At present, the slow-stochastic sits above the 50-point mark to suggest bullish momentum while the 14-day relative strength index (RSI) is gaining ground at 39 points.
The daily moving average convergence and divergence (MACD) histogram is charting higher positive bars, which is indicating a return of positive momentum.
Support for the share is found at RM2.48 and RM2.29.
Mah Sing Group Bhd is pressing up against the 50-day SMA line as it makes its way towards a pre-correction high of RM1.96.
The share's recovery is gaining pace with the slow-stochastic staying bullish in overbought territory at 80 points. and the RSI has crossed 50 points to indicate strong momentum.
The MACD has also charted a positive bar for a second consecutive day, affirming the bullish momentum.
There is higher resistance at the share's historical closing high of RM2.04 while support is pegged to RM1.50 and RM1.20.
Pecca Group Bhd is facing resistance at the 50-day SMA line as it attempts to break free of a downward trend channel that began at the start of June this year.
In the event of a successful breach, the share is expected to ride the momentum past an initial resistance of RM1.35 before heading towards a historical closing high of RM1.49.
Looking at the technical indicators, the slow-stochastic has risen to a bullish 53 points while the RSI is also strong at 50 points.
The MACD histogram continues to chart positive bars, with the MACD line coming closer to turning positive to reflect an upward trend.
Support for the share is pegged to RM1.20 and RM1.10.
The comments above do not represent a recommendation to buy or sell.
