UWC Bhd
is experiencing slight profit-taking pressure after recent gains, but the share price is expected to resume the uptrend.
The share is approaching the recent high of RM6.56, which could pave the way for an attempt at the historic closing high of RM7.09.
Based on the daily price chart, the share is outpacing the key simple moving averages, reflecting the bullish price trend.
The slow-stochastic is mildly overbought at 83 points, but is expected to maintain its bullish trajectory.
The RSI has dipped slightly from the profit-taking, and currently sits at a firm 60 points.
The MACD, meanwhile, remains on a bullish rise after four successively higher bars.
Support is found at RM6.20 and RM4.87.
Ranhill Utilities Bhd is rising out of its consolidation path, en route to challenge a historic closing high of RM2.18.
The technical indicators remain healthy, with the slow-stochastic sitting right on the overbought line at 80 points.
The RSI has crossed slightly into overbought territory, to signal strong rising momentum, at 73 points. Meanwhile, the MACD continues to pace higher to signal rising bullish momentum.
Support for the share is found at RM1.90 and RM1.80.
Frontken Corp Bhd has been hovering at record high levels in recent days as it takes a breather before taking its share price another notch higher.
The indicators are suggesting continued bullishness despite some mild signs of overheating.
The slow-stochastic sits at overbought levels of 83 points but is expected to continue its ascent.
The uptrend is affirmed by the 14-day relative strength index (RSI), which is at 59 points, and the daily moving average convergence/divergence (MACD) histogram, which continues to chart higher positive bars.
The share sees immediate resistance at RM5.27, with subsequent target at RM5.73. Support is pegged to RM4.67 and RM4.40.
The comments above do not represent a recommendation to buy or sell.
