Dialog Group Bhd
crossed the 200-day simple moving average (SMA) yesterday to indicate growing bullishness and a continuation of a recovery.
The share is looking to hit a January high of RM2.03, which presents its first major resistance en route to a one-year high at RM2.64.
Looking at the technical indices, the momentum is growing more positive. The slow-stochastic has hit a robust 76 points while the 14-day relative strength index (RSI) is at a strong 68 points.
The daily moving average convergence/divergence histogram is also gaining speed to affirm a stronger uptrend.
Support for the share is pegged to RM1.50 and RM1.14.
Hume Cement Industries Bhd gapped up above the 200-day SMA line yesterday with the onset of robust buying interest.Trading volume reached a 2.5 month high at 1.49 million sharesThe momentum was seen rising to oversold levels with the slow-stochastic hitting 85 points and the RSI at 73 points, although both indicators remained in an upright position.
The MACD also showed a steep ascent with the bullish push yesterday.
Resistance is pegged to RM3.61 and RM3.97 while support lies at RM2.70 and RM2.40.
Pentamaster Corp Bhd rebounded yesterday to snap a five-day descent.
Coupled with the slow-stochastic bouncing out of oversold conditions, the share is looking towards some positive retracement.
The RSI has also halted its descent, and has moved higher to a strong 58 points.
The MACD histogram continues to falling momentum, given the recent profit-taking trend.
Resistance for the share lies at RM4.25 and RM4.61 while support is found at RM3.40 and RM2.79.
The comments above do not represent a recommendation to buy or sell.
