Hup Seng Industries Bhd
rose past the 100-day simple moving average yesterday in intraday trade, although resistance remained intact by the end of day.
In the event of a continued recovery, the share price is expected to continue rising to a recent high of RM1.28.
The technical indices are showing signs of consolidation with the slow-stochastic falling to 37 points and the 14-day relative strength index (RSI) rising at 43 points.
The daily moving average convergence/divergence (MACD) line has charted a longer positive line to signal growing bullish momentum.
On the lower end of the chart, support is found at RM1.07 and 98 sen.
Supermax Corp Bhd remains under consolidation pressure as it makes its way towards a recent high of RM1.35.
There is rising support from the short-term 14 and 21-day simple moving average (SMA) lines as the share continues to retrace the losses from its correction in January.
Following RM1.35, the share could be headed for RM1.54.
There is falling momentum in the slow-stochastic, although it remains strong at 51 points, while the RSI remains firm at 58 points.
The MACD histogram is also on a rise, in line with the growing recovery trend.
Support for the share is pegged at RM1.03 and 90 sen.
Dayang Enterprise Holdings Bhd is trading in a narrow range as it remains capped by the overhead 100-day SMA line.
A break past RM2.27 should see the share climb higher towards a resistance of RM2.58.
The momentum levels on the technical charts remain reasonable with the slow-stochastic at 62 points although the RSI has dipped to 49.
The MACD histogram has charted another positive bar it shortened with yesterday's share price decline.
There is support for the share at RM1.94 and RM1.43
The comments above do not represent a recommendation to buy or sell.
