MNRB Holdings Bhd
is challenging a recent high point of RM2.57 as it attempt to resume its recovery to February’s peak of RM2.92.
The technical indices are looking promising with the slow-stochastic ascending higher in overbought mode at 86 points while the RSI is robust at 59 points.
The MACD remains positive with a rising signal line reflecting the growing momentum.
Support for the share can be found at RM2.40 and RM2.20.
Hartalega Holdings Bhd remained in a sideways trading pattern in the absence of buying interest, putting it at a distance from a resistance at RM1.28.
While the slow-stochastic has gained steam to 55 points and the RSI remains at a strong 53 points, the MACD histogram remains negative.
The share is looking at a recovery towards RM1.55.
Should the share drop below RM1.10, it could head towards a lower support of 80 sen.
Malaysia Smelting Corp Bhd is perking up as it makes its way past the 50-day simple moving average in an attempt to return to a recent high of RM2.08.
There is evidence of growing momentum returning to the share, with the slow-stochastic rising to a bullish 59 points and the 14-day relative strength index (RSI) rising past the midline to 54 points.
The daily moving average convergence/divergence (MACD) histogram is curving higher, with an extra nudge needed to spark a positive signal.
In the event of a breakout, the share could rise towards a historical high of RM2.53.
Support is found at RM1.83 and RM1.69.
