Teo Seng Capital Bhd
is embarking on a recovery, after having crossed above the 21-day simple moving average (SMA) yesterday as it extended a rebound. The share has three straight days of gains under its belt, and has built up momentum to continue its ascent.
Resistance for the share is seen at RM1.18 while higher resistance is pegged at RM1.33. Looking at the technical indicators, the slow stochastic remains strong, while the 14-day relative strength index (RSI) is gaining strength towards the midline.
The daily moving average convergence/divergence (MACD) line is charting longer bars in a sign of rising momentum.
Support is found at RM1 and 80 sen.
AWC Bhd extended its gains yesterday even after surging on Wednesday, indicating a strong bullish momentum. The rally has hit a resistance of RM1.10, which is expected to be breached given the sustained buying interest.
Higher still, the share is looking at resistance at RM1.35. The slow-stochastic and RSI have hit overbought conditions following the two-day surge.
However, the uptrend is confirmed by longer positive bars in the MACD.
Support for the share lies at 90 sen and 69 sen.
SDS Group Bhd edged above the key SMA lines yesterday in a sign that investor sentiment may be turning bullish. However, short of arriving at the recent high of RM1.28, the share could remain trapped within a consolidation phase.
The slow-stochastic has risen to overbought conditions and is starting to plateau. A more optimistic view is supported by the RSI, which remains strong above the midline, while the MACD histogram is growing more bullish.
Support is pegged to RM1.12 and 99 sen.
The comments above do not represent a recommendation to buy or sell.
