The rally by 99 Speed Mart Retail Holdings Bhd
is currently capped at an intraday historical high of 4.05, which in crossing could see the resumption of a rally into uncharted levels of trading.
The share struggled against the intraday resistance, as the technical indices edged into overbought levels of trading. Nevertheless, it looks like a matter of time before the hurdle is breached as the indices remain at a bullish trajectory.
The slow-stochastic is currently hovering at a strong 81 points while the 14-day relative strength index (RSI) is sitting at 68 points.
Support for the share is pegged at RM3.78 and RM3.56.
Bursa Malaysia Bhd climbed in three consecutive sessions to return to a 15-month high.
The share is rising on red-hot momentum with the slow-stochastic pacing higher in overbought conditions of 98 points and the RSI climbing at 82 points.
The daily moving average convergence/divergence (MACD) has spiked on bullish momentum.
Resistance for the share is found at RM9.50, with higher resistance at RM10. Support lies at RM RM8.60 and RM8.39.
KPJ Healthcare Bhd is making another challenge to the resistance at RM2.90, a breach of which would see it rise to a historical trading high of RM3.05.
The share has been edging higher in recovery mode since the start of last December with a gradual increase in positive momentum.
Looking at the technical indices, the slow-stochastic sits at 68 points while the RSI is rising at 63 points. The MACD remains positive and growing.
Support for the share lies at RM2.52 and RM2.35.
The comments above do not represent a recommendation to buy or sell.
