Fraser & Neave Holdings Bhd
is growing more bullish as it made a second straight day of gains yesterday to affirm a positive crossing of the 100-day simple moving average (SMA).
The share crossed the recent high of RM26.85, which confirmed an uptrend with a loftier target of RM32.
Looking at the technical indicators, the slow-stochastic has grown bullish at 67 points while the 14-day relative strength index (RSI) is also strong at 68 points.
The daily moving average convergence/divergence (MACD) histogram continues its positive path, reflecting the uptrend.
Support for the share is pegged to RM25 and RM22.40.
LPI Capital Bhd is on a breather but remains bullish as it seeks to reclaim the recent trading high of RM14.47.
The share has been hovering near the 21-day SMA line of late, with an immediate overhead hurdle at RM14.10, which represents a recent cap.
There are indications of growing bullish momentum in the technical indices. The slow-stochastic has stopped its fall and is turning higher at 52 points to suggest the end of a consolidation phase and the resumption of bullish momentum.
The RSI is strong at 54 points and the momentum on the MACD histogram is picking up with a new positive bar.
Support is found at RM12.50 and RM11.70.
Ge-Shen Corp Bhd spiked yesterday, accompanied with high trading volume, to signal strong buying interest.
The positive momentum is growing steadily as the share makes its way back to a historical trading high of RM1.73.
On the technical charts, the slow-stochastic has risen to 72 points while the RSI has grown to 62 points, indicating bullish momentum.
The MACD histogram is also charting long positive bards to reflect the rising positivity.
Support for the share lies at RM1.47 and RM1.34
The comments above do not represent a recommendation to buy or sell.
