Sunway Real Estate Investment Trust
has maintained an uptrend following a surge in buying interest earlier in the week.
The units are now looking at a recent high of RM2.25, and a historical trading high at RM2.32 given the robust, albeit overbought momentum.
Looking at the technical indicators, the slow-stochastic is overbought at 88 points and appears to be entering a neutralisation phase. However, the 14-day relative strength index (RSI) is on a robust ascent at 60 points while the daily moving average convergence/divergence (MACD) histogram is trending higher in positive territory.
Support for the units are pegged to RM2.05 and RM1.93.
Kerjaya Prospek Group Bhd’s rebound stalled yesterday as traders took a breather after two days of recovery.
The share hit a trading high of RM2.88 earlier this week, which serves as the highest traded value in recent memory.
Given the return of bullish momentum, the share is expected to reclaim this level as it resumes its upward trend. On the slow-stochastic, the share is headed for the 50-point midline to indicate the return of bullish momentum.
Support lies at RM2.55 and RM2.73.
Binastra Corp Bhd has entered into a consolidation channel as the stellar momentum seen in September has petered out.
At current levels, the share is finding support at the 38.2% Fibonacci retracement level of the August to October rally at RM2.20.
Subsequently, the share is expected to bounce higher given the bullish flag pattern and growing momentum.
The slow-stochastic is recovering at 46 points while the RSI has crossed above the 50-point midline.
Resistance levels are seen at the historical high of RM2.50 while support is found at RM2.10 and RM2.
