99 Speed Mart Retail Holdings Bhd
is holding on to a sideways formation as its short-term recovery takes a breather.
As the slow-stochastic descends, the share hovers near the 100-day simple moving average (SMA), unable to make a breach of the hurdle.
However, the recovery is expected to continue given the bullish momentum in the 14-day relative strength index (RSI) at 62 points and the daily moving average convergence/divergence (MACD) histogram, which continues to chart positive bars.
Next resistance is pegged to RM2.35 and RM2.61. Support is found at RM2.10 and RM1.85.
Guan Chong Bhd's rally is picking up pace, going by yesterday's close above the 21-day SMA line.
The share is looking to cross the 200-day SMA line, and target a higher price of RM3.85, before climbing to a historical trading high of RM4.47.
Looking at the technical indices, the slow-stochastic is robust at 79 points while the RSI is on the verge of crossing the midline at 50 points.
The MACD has charted another positive bar, suggesting growing bullish momentum.
Support for the share is found at RM2.60 and RM2.31.
AME Elite Consortium Bhd is moving up a short-term recovery trend, crossing the 21-day SMA line to suggesting growing bullishness.
The positive momentum is growing on the technical charts with the slow-stochastic edging higher to overbought territory at 83 points.
The RSI is also gaining strength, on the verge of crossing into a bullish signal at 50 points, while the MACD histogram has charted a second successive positive bar to reflect the growing uptrend.
Resistance levels can be seen at RM1.70 and RM1.84, while support for the share is found at RM1.46 and RM1.30.
The comments above do not represent a recommendation to buy or sell.
