Jaya Tiasa Holdings Bhd
jumped past a hurdle at RM1.19 yesterday, breaking free of a resistance that has kept a lid on gains since May this year.
The breakthrough frees up the share to rise towards RM1.50, marking a high point for 2024.
The technical indicators are looking positive with the slow-stochastic and 14-day relative strength index pushing upwards of 60 points.
The daily moving average convergence/divergence (MACD) histogram, meanwhile, has returned to a positive bar, which indicates bullish momentum.
Support for the share is found at RM1.10 and RM1.
Sunway Construction Group Bhd is perking up as it extend gains towards a record closing high of RM5.04.
The share is seeing a pick up in the short-term simple moving averages (SMA), reflecting growing momentum as the share embarks on a rally.
The slow-stochastic has risen to a robust 79 points while the RSI is strong at 65 points.
The MACD has charted another positive bar, suggesting growing bullish momentum.
Support is pegged to RM4.20 and RM3.35.
IJM Corp Bhd is pushing against the 50-day SMA line as it rose for a second straight day yesterday in an attempt to climb above the RM3.21 mark to sustain a rally.
However, a descending triangle pattern could be forming on the price chart, which is typically indicative of a bearish breakdown in prices should it fail to cross the resistance.
In the event of a successful breakout, the share is looking at higher resistance of RM3.69, which represents its all-time closing high.
The slow-stochastic is rising at 66 points and the RSI is also strong at 52 points, while the MACD is growing more positive.
Support is pegged to RM2.80 and RM2.35.
The comments above do not represent a recommendation to buy or sell.
