Sime Darby Bhd
accelerated its ascent yesterday as it aims to pass a five-month trading high of RM2.36.
Higher still, the next resistance is pegged to RM2.95.
The slow-stochastic has leapt into overbought territory, but the uptrend is looking healthy as affirmed by the 14-day relative strength index (RSI) at 67 points and the rising daily moving average convergence/divergence (MACD) histogram.
On the lower end of the chart, support is pegged to RM2.10 and RM1.88.
KSL Holdings Bhd is continuing its rebound after finding support around the RM3 level.
The share has been moving in a consolidation pattern since falling off a historical closing high of RM3.39 last October.
However, strong momentum indicators suggest the peak level can be reclaimed as the share continued on its recovery trajectory.
The slow-stochastic has risen to 86 points, while the RSI has climbed to 64 points. The MACD histogram has signalled a return to bullish momentum.
Support, meanwhile, lies at RM3 and RM2.60.
Tomei Consolidated Bhd gapped up yesterday on bullish momentum following a strong earnings result.
The share has risen above the uppermost 14 and 21-day short-term simple moving averages to suggest a return of bullish momentum.
At current levels, the share is within striking distance of a historical high closing price of RM2.08.
Going by the technical indices, there is still some distance to go before the share is overbought. The slow-stochastic is rising at 61 points while the RSI is strong at 58 points. The MACD line on the histogram has also made a U-shaped turn higher to signal improving momentum.
Support for the share is found at RM1.85 and RM1.68.
