KESM Industries Bhd
bounced higher yesterday but failed to break out of a consolidation phase. The share could make an attempt to breach an upper hurdle of RM4.22 as its slow-stochastic crossed out of oversold levels and signalled a “buy” call.
The RSI is also looking more bullish as it approaches 50-points. The MACD histogram, meanwhile, is poised to make a bullish signal by charting a positive bar after nearly two months in the red.
Resistance is found at a five-week trading high of RM5.05 while support is pegged to RM3.59 and RM2.80.
TSH Resources Bhd rose above the 50-day simple moving average (SMA) yesterday to ignite hopes of a recovery.
After two straight days of gains, the share is challenging the immediate resistance at RM1.23, before attempting to recover towards an eight-month peak of RM1.40.
The technical indicators are promising as the slow-stochastic sits strong at 64 points and the 14-day relative strength index (RSI) is also rising at 59 points.
The daily moving average convergence/divergence (MACD) histogram has charted a higher positive bar to signal bullish momentum. Support can be seen at RM1.07 and RM1.
Vitrox Corp Bhd is taking a breather from its robust uptrend, triggering a brief consolidation phase.
However, the share remains well-supported above the short-term 14 and 21-day SMA lines, which reflects bullish sentiment.
The slow-stochastic remains in oversold levels. The RSI remains strong at 56 points.
The MACD, whose bar chart remains negative, is yet to turn higher and confirm the onset of positive momentum.
Resistance lies at the historical trading high of RM7.99, while support can be seen at RM7.19 and RM6.48.
