Nationgate Holdings Bhd
has crept higher for a third straight session as it approaches the 200-day simple moving average (SMA) overhead.
The share is seeing resistance at the RM1.80 mark, which in crossing could see it rise towards a January high of RM2.93.
There is robust momentum in the technical indicators with the slow-stochastic rising to an overbought condition of 89 points and the 14-day relative strength index gaining to 63 points.
The daily moving average convergence/divergence (MACD) histogram is perking up with its second successive positive bar.
On the lower end of the chart, there is support at RM1.32 and RM1.
Magni-Tech Industries Bhd is looking for the return of a fresh buying lead after having moved above a declining trend line earlier this month.
The share remains capped by the 100- and 200-day SMA lines, but with growing momentum, it is expected to sustain a rally.
On the technical indices, the slow-stochastic is poised to rise to 50 points, signalling a bullish condition, while the RSI has risen to 56 points.
The MACD is also on a bullish trend with a succession of positive bars.
Resistance for the share is pegged to RM2.30 while higher still, a hurdle can be seen at RM2.50.
Support is found at RM2 and RM1.85.
Apex Healthcare Bhd crossed above the 100-day SMA line for the first time in nearly a year, signalling a return of bullish sentiment.
With the crossing, the share could be looking at reaching a recent high of RM2.30, where it is expected to take a breather given the extended overbought conditions on the slow-stochastic. A resumption of the rally could see the share arrive at the RM2.50 level.
Other momentum indicators, however, remain robust The RSI is pacing higher at 65 points and the MACD histogram is charting successively higher positive bars.
Support for the share is pegged to RM2.10 and RM1.90.
The comments above do not represent a recommendation to buy or sell.
