Malaysia Smelting Corp
Bhd (MSC) took off yesterday amid bullish momentum and strong trading interest.
The share's trading volume reached a six-month high while the technical indicators flashed robust levels of momentum.
While the slow-stochastic was seen dipping below overbought levels , the indicator remains at a bullish level.
The 14-day relative strength index is also robust while the daily moving average convergence/divergence (MACD) histogram is seen picking up positive momentum.
MSC looks poised to chart another leg of gains towards RM1.60 and RM1.80.Support is pegged to RM1.27 and RM1.12.
Unisem (M) Bhd remains on an uptrend with the technical indicators showing sustained bullish momentum.
At current levels, the share has returned to January highs, on course to charting a fresh peak for the year.
The slow-stochastic is giving the rally fresh legs as it ended a neutralisation phase to cross into a bullish signal yesterday.
The RSI displays strong momentum while the MACD histogram is also picking up after three day of decline.
There is resistance at RM3.40 and RM3.80. while support lies at RM2.40 and RM1.80.
Leong Hup International Bhd remains firmly below a resistance of 66 sen despite some recovery in recent days.
The momentum indices have picked up although the slow-stochastic continues to struggle against the 50-point midline, while the RSI is showing strength at robust levels.
The MACD histogram is positive and rising at a gradual clip.
Short of a fresh catalyst and renewed buying interest to spur the share past the resistance, it looks set on travelling in a sideways trading channel caught between 60 and 66 sen.
Lower support can be found at 56 sen.
