Pentamaster Corp Bhd
leapt higher yesterday on strong trading volume to signal a return of buying interest in the share.
The stock crossed above the 100-day simple moving average (SMA), suggesting strong bullish momentum.
Given the surge in momentum, the share could be aiming for a resistance of RM4.60, before crossing beyond to a higher price target of RM5.26.
There is a spike in the technical indicators, reflecting the growing interest, with the slow stochastic soaring to 61 points and the RSI to 66 points.
The MACD histogram has also charted a positive bar to signal the bullish momentum. Support for the share lies at RM3.60 and RM3.35.
top
Top Glove Corp Bhd experienced a surge of momentum yesterday as buying interest in the share picked up on fresh leads.
After two months of recovery, the share has arrived at its highest closing level in five months, with an eye towards a resistance of RM1.27.
Upon crossing this hurdle, the share could see an extension of the uptrend towards the RM2.09 mark.
The slow-stochastic is currently hovering below the overbought line at 76 points while the 14-day relative strength index (RSI) is at 71 points. The daily moving average convergence/divergence (MACD) histogram is on an uptrend with growing bullish momentum.
Support for the share is pegged to RM1.13 and RM1.
ever
Eversendai Corp Bhd continued to gain upside momentum as it attempts to work its way towards May levels of trading.
The share is seeing price targets at the 65 sen and 75 sen levels, and is seeing positive developments in the technical indicators.
The slow-stochastic is rising towards the midpoint at 46 points, while the RSI is looking bullish at 63 points. The MACD histogram continues to gain bullish momentum with rising positive bars.
Support for the share is found at 53 sen and 42 sen, respectively.
