MR DIY Group (M) Bhd
is slowly creeping up as the sentiment over the stock improves and momentum builds.
The share rose for a second straight day yesterday as it continued its rebound following a steep correction.
There are some immediate hurdles to overcome, including the short-term 14- and 21-day simple moving averages, following which the share should meet a resistance at RM1.70.
However, the technical indices are looking optimistic as the slow-stochastic continues its ascent to 62 points and the 14-day relative strength index (RSI) moves higher to 41 points.
The daily moving average convergence/divergence (MACD) histogram has charted a positive bar in a sign of bullish momentum.
Support is found at RM1.45 and RM1.30.
Kerjaya Prospek Group Bhd extended its rebound yesterday for a second straight day as it sought to reclaim some of the losses made during a two-month correction.
The slow-stochastic has spiked to a bullish 54 points while the RSI is ascending the midline at 44 points. The MACD has charted a positive bar to signal a return to bullish momentum.
The share can be seen retracing to a resistance at RM2.40 and RM2.68. To the lower end, support is found at RM2.08 and RM2.
Kossan Rubber Industries Bhd is consolidating near the 200-day SMA line in the absence of a fresh lead to take it higher.
The stock looked set to extend a rally after breaching the moving average last week but has since seen some correction pressure.
Looking at the technical indices, there remains some bullish energy left in the share, with the slow-stochastic curving higher to 36 points and the RSI resuming its ascent at 62 points.
The MACD histogram remains positive, indicating continued upside momentum.
Resistance can be seen at RM1.40 and RM1.70, while support is pegged to RM1.09 and 95 sen.
The comments above do not represent a recommendation to buy or sell.
