Genting Malaysia Bhd
was seen picking up from a sideways channel towards its recent high of RM2.32.
The share is gaining positive momentum as it attempts to continue a recovery trend and retrace some of the losses from its March-December 2024 descent.
Should the rally take flight, resistance can be seen at RM2.52 and RM2.75.
The technical indices are looking positive with the slow-stochastic and 14-day relative strength index (RSI) rising to 61 points.
The daily moving average convergence/divergence (MACD) histogram extended its positive bar to suggest bullish momentum is taking root.
Support for the share is pegged to RM2.10 and RM1.90.
Tomei Consolidated Bhd surged past the 200-day simple moving average (SMA) yesterday to suggest the start of an extended rally.
The share, which has been on a three-day rally, is seeing a rapid ascent towards a record trading level at RM2.16.
The momentum indices coupled with rising trading volume support this view as the slow-stochastic has crossed into overbought territory at 82 points and the RSI has crossed the overbought line at 74 points.
The MACD histogram is also charting a growing series of positive bars.
Support for the counter is found at RM1.60 and RM1.43.
ITMax System Bhd is maintaining its upward course to uncharted ground.
Having risen yesterday to a fresh closing high, the share remains on a strong uptrend, although its technical indicators are flashing overbought warnings.
The slow-stochastic is falling in overbought levels, suggesting some profit-taking could be in the offing as the share neutralises.
However, the positive momentum remains robust with the RSI rising to 67 points and the MACD suggesting a growing bullish trend.
Support lies at RM3.20 and RM2.80.
The comments above do not represent a recommendation to buy or sell.
