Jaya Tiasa Holdings Bhd
faces a hurdle at the RM1.12 resistance as it attempts to extend its rebound.
The share has been retracing higher over the last two weeks on growing momentum, and looks likely to maintain its recovery.
While the slow-stochastic has dipped slightly, it remains at a high level of 71 points, while the RSI also remains robust at 63 points.
The MACD continues to signal growing bullishness, reflecting the ongoing uptrend.
Higher resistance can be seen at RM1.18, while at the other end, there is support at RM1.02 and 96 sen.
Westports Holdings Bhd’s uptrend remains alive and well as it makes a bid to cross its historical closing high of RM6.27.
Recent price increases have moved the share comfortably ahead of the short-term moving averages, reflecting the positive trend.
While there has been some neutralisation pressure in the slow-stochastic, the index remains at a firm level of 63 points.
The RSI is also strong at 62 points, while the MACD continues to chart successively higher positive bars.
Support for the share is found at RM6 and RM5.60.
Malaysia Smelting Corp Bhd escaped a sideways channel yesterday as it picks up momentum towards the 50-day simple moving average (SMA) and the RM2 mark.
The bullish momentum is picking up in all the technical indices, including the slow-stochastic where it has risen to an overbought level of 83 points. The 14-day relative strength index (RSI) also showed strong upward momentum after rising to 51 points.
The daily moving average convergence/divergence (MACD) histogram has crossed, giving a bullish signal by charting a positive bar. Should the share break free of the immediate resistance, it can be seen returning to a historic high at RM2.28.
Support for the share is pegged to RM1.80 and RM1.60.
