Johor Plantations Group Bhd
has been moving in a tight range-bound pattern since coming off a correction at the start of December.
There are signs the share price is ticking higher as it pushes up against the 21-day simple moving average (SMA).
As the technical indicators improve – the slow stochastic is strong at 64 points and the 14-day relative strength index (RSI) is also firm at 55 points – the share is looking to reclaim a historical peak at RM1.74.
The daily moving average convergence/divergence (MACD) histogram is poised to chart a positive bar, signalling the return of bullish momentum.
Support for the share is pegged to RM1.49 and RM1.37.
Kerjaya Prospek Group Bhd has been moving sideways alongside the short-term 14 and 21-day SMA lines, as it awaits the resurgence of buying interest.
The slow-stochastic has been pushing higher to a strong 80 points, while the RSI has edged higher to 52 points.
The MACD histogram, however, continues to chart negative momentum, reflecting the current stagnant performance.
Based on the daily price chart, the stock remains on a bullish trend and is awaiting a spark to edge above RM2.80 to reclaim its recent high of RM2.92.
There is support for the share at RM2.58 and RM2.40.
Velesto Energy Bhd is taking a breather following a rally over the first two weeks of December.
This is reflected in the neutralisation phase of its slow-stochastic and RSI, which have fallen from overbought levels of momentum.
However, given the bullish pattern on the daily price chart, the rally is expected to resume after a brief consolidation, challenging the resistance levels at 28.5 sen and 31.5 sen.
Support for the share lies at 27 sen and 24.5 sen.
