Genting Malaysia Bhd
’s rally has lost steam as it charted a second consecutive day of losses yesterday.
The share is finding support at the 100-day SMA lines near RM2, but could be looking at a lower support near RM1.90 as profit-taking continues. Looking at the technical indices, the overbought momentum has been neutralising with the slow-stochastic and RSI subsiding to 61 points each.
The MACD histogram remains positive, but the momentum has slowed slightly.
Investors are looking for a fresh lead to take the stock past the recent high of RM2.10. Following which, it could arrive at a November 2025 closing high of RM2.37.
Lim Seong Hai Capital Bhd jumped past the 50-day simple moving average (SMA) yesterday as it experienced strong buying interest and high turnover.
The upside momentum has picked up strongly, with the slow-stochastic rising to 56 points and the RSI hitting a robust 58 points.
After a period of slowing momentum, the MACD histogram has perked up, indicating a return of bullish sentiment.
On the upper end of the chart, the share sees resistance at RM2.10 and RM2.50, while support can be found at RM1.45 and RM1.17.
Eco-Shop Marketing Bhd perked up yesterday as it regains some recovery momentum following a correction phase.
The share fell over the course of six weeks from March to April, before the decline petered out to a sideways channel in recent weeks.
Yesterday, the share indicated some return of bullish momentum as it retraced above the RM1.30 level. The slow-stochastic and 14-day relative strength index (RSI) rose simultaneously past 50 points, triggering a “buy” signal.
The daily moving average convergence/divergence (MACD) histogram is also on the ascent with a gradual increase in positive momentum.
Resistance for the share is found at RM1.40 and RM1.63, while support is pegged to RM1.25 and RM1.15.
