CSC Steel Holdings Bhd
jumped above the 100-day simple moving average (SMA) yesterday, indicating bullish sentiment as it retraces to pre-”Liberation Day” levels of trading.
Coupled with the highest trading volume in three weeks, its bullish momentum is gaining traction. The share’s immediate resistance lies at RM1.20, while higher resistance is pegged to RM1.38.
The slow-stochastic is strong at 53 points, while the 14-day relative strength index (RSI) has risen to 59 points.
The daily moving average convergence/divergence (MACD) histogram is also gaining speed. Support for the share is found at RM1 and 92 sen.
Dufu Technology Corp Bhd is showing signs of short-term recovery even as it struggles against the 50-day SMA line.
In crossing a resistance of RM1.23, the share is set to ramp up its recovery to a higher resistance of RM1.70.
Technical indicators are positive, however, the slow-stochastic has entered into overbought condition at 85 points. The indice remains ascending in bullish mode.
Other technical indices are also strong, including the RSI at 57 points and the MACD histogram, which continues to chart an ascension of bars. There is support for the stock at RM1 and 68 sen.
Kelington Group Bhd made a rapid recovery to top the 100-day SMA line, with its bullish momentum suggesting further upside potential.
The slow-stochastic arrived at 98 points, which indicated very overbought conditions but strong upward momentum.
The bullish outlook was affirmed by the rising RSI at 59 points and a positive trending MACD histogram.
Resistance can be found at the December 2024 closing high of RM3.60, which in crossing could see it surpass the all-time high trading level of RM3.71.
Support is pegged to RM2.95 and RM2.62.
