QL Resources Bhd
bounced off the 50-day simple moving average yesterday after three days of profit-taking.
The share is expected to enter a consolidation phase as the momentum indicators retrace from weak levels after the recent selling. At present, the slow-stochastic has bounced off the oversold line to sit at 23 points, while the RSI is recovering at 48 points.
The MACD histogram continues to fall in negative territory, reflecting the ongoing weakness. However, should the support hold around the RM3.90 level, the share is expected to challenge the recent high of RM4.13. Further resistance is seen at RM4.46.
Lower support can be found at RM3.60.
Dialog Group Bhd has been seeing some sideways trading in recent days, but the momentum indices suggest more upside is on the way.
The slow-stochastic is on the verge of crossing the 50-point midline to suggest bullish momentum, while the RSI sits firmly at 52 points. The MACD, meanwhile, is poised to cross the signal line to give a “buy” call.
Overhead, the share is looking at a recent trading high of RM2.10, which serves as a resistance level, before ascending further to an April peak of RM2.36.
Support for the share lies at RM1.88 and RM1.58.
TSH Resources Bhd gapped up yesterday on a surge in positive momentum as it headed towards an immediate resistance of RM1.25.
A breach of the resistance would see the share resume an upward trend towards April 2026 levels of trading, with the next resistance at RM1.40.
The technical indicators are looking bullish as the slow-stochastic has risen rapidly to 72 points, while the 14-day relative strength index (RSI) jumped 59 points.
The daily moving average convergence/divergence (MACD) histogram has turned positive, reflecting the return of bullish momentum.
Support can be seen at RM1.14 and RM1.
