Westports Holdings Bhd
is making a gradual rise out of a consolidation channel, as it makes it way towards an immediate resistance of RM5.80.
The technical indices are painting a positive picture as the slow-stochastic is poised to give a “buy” signal at 59 points, while the 14-day relative strength index (RSI) is ascending at a strong 51 points.
The daily moving average convergence/divergence (MACD) histogram is also picking up positive momentum.
In the event of a successful breach of the RM5.80 hurdle, the share is expected to rise towards the RM6.28 record closing level.
Support for the share is found at RM5.30 and RM5.
KPJ Healthcare Bhd remains in consolidation mode, although it is expected to return to a rally, which would see the share return to its highest closing of RM3.52.
The slow-stochastic has neutralised from overbought conditions to a healthy 60 points, while the RSI remains strong at 54 points. The MACD has charted four positive growth bars, reflecting the bullish momentum.
To the lower end of the price chart, there is upside bias with the simple moving averages (SMA) offering lift to the share price.
There is support for the share at RM3.17 and RM2.80.
Southern Cable Group Bhd is poised for an extended rally after two strong days of gains put it past the short-term SMA lines and on course to its recent peak of RM2.18.
The MACD histogram is on the verge of charting a positive bar, signalling the return of bullish moment.
The slow-stochastic has reached into overbought levels, but remains ascending at 84 points.
The RSI, meanwhile, is rising at a robust 55 points.
Given the improving signals, the share is expected to resume its uptrend towards its record close of RM2.42. Support is pegged to RM1.75 and RM1.60.
