Genting Malaysia Bhd
rose above the 200-day simple moving average (SMA) yesterday as it attempts to make its way past the trading gap left behind in February 2025.
The share is gaining in momentum, with an eye towards a February high of RM2.48, as it continues its recovery trend.
Looking at the technical indices, the slow-stochastic has hit an overbought level of 80 points but looks poised to rise further on strong buying interest.
The 14-day relative strength index (RSI) is also overbought at 73 points while the daily moving average convergence/divergence (MACD) histogram charts longer positive bards to signal a continued uptrend.
Support for the share is pegged to RM1.82 and RM1.47.
Binastra Corp Bhd halted its decline yesterday as it found support near the short-term 21-day SMA line.
The technical indicators are suggesting an ongoing consolidation with the slow-stochastic slipping to 35 points and the RSI stalling at 55 points.
The consolidation phase has brought the MACD to a slightly negative position, but a pick up in positive interest could be righting the indicator over the coming days.
Resistance is seen at RM1.95 while support is noted at RM1.80 and RM1.60.
TIME Dotcom Bhd remains hovering in consolidation mode near all-time highs as it seeks out its next bullish catalyst.
Overhead, the share's closing record of RM5.35 is just within reach.
Optimistically, the slow-stochastic has bounced off the oversold line to begin on a recovery path while the RSI is also getting stronger at 45 points.
The MACD remains weak as it subsides into negative territory, suggesting a bearish trend remains in place.
Support levels lie at RM5.10 and RM4.70.
The comments above do not represent a recommendation to buy or sell.
