Pharmaniaga Bhd
has undergone a bout of profit-taking after rallying over the past week.
The share slipped below the 50-day SMA as the technical indicators neutralised from overbought conditions.
At yesterday’s close of RM1.22, the share broke below the 50-day SMA line, suggesting bearish sentiment.
The slow-stochastic index has retreated from overbought conditions at 77 points, which suggests consolidation.
However, the MACD histogram remains positive, while the 14-day RSI remains at 50 points.
Support for the share is found at RM1.12 and 90 sen.
Kerjaya Prospek Group Bhd’s recovery remains on track despite encountering a hurdle in the form of the 200-day simple moving average (SMA) line, which it failed to overcome yesterday.
Should the share breach the RM2.50 mark, it could proceed to its next target of RM2.87.
Looking at the daily price chart, there is strong support for the share from the short-term moving averages.
The momentum indicators have subsided but remain strong, with the slow-stochastic falling to 73 points from overbought levels, while the 14-day RSI slipped to 62 points.
Support for the share lies at RM2.26 and RM2.07.
Hibiscus Petroleum Bhd’s upward momentum picked up speed yesterday to close a trading gap, suggesting strong bullish sentiment.
At the close, the share rose to RM2, closing a downside gap from June 15, 2026.
Going by the bullish technical indices, the share is expected to aim for higher resistance at RM2.20.
The slow-stochastic is rising at 87 points, while the 14-day relative strength index (RSI) has crossed the 50-point midline for a bullish signal. The moving average convergence divergence (MACD) histogram is also gaining positive momentum.
Support is pegged to RM1.72 and RM1.60.
