TSH Resources Bhd
has broken out of a consolidation phase after bypassing a resistance at RM1.40.
In crossing the hurdle, the share stands to rise towards a higher target of RM1.85.
Looking at the technical indices, the slow-stochastic has hit overbought levels but remains healthy as it continues its ascent at 90 points. The RSI has also entered overbought conditions at 75 points.
The MACD remains positive, indicating bullish momentum.
Support for the share lies at RM1.25 and RM1.14.
Johor Plantations Group Bhd has found its support after a sharp pullback about two weeks prior.
The share remains hovering in consolidation mode above the 100-day simple moving average (SMA), biding time to break higher.
It has shaken free of the immediate hurdle at RM1.95, following which the share is targeting the recent historical peak of RM2.10.
A recovery is underway in the technical indices. The slow-stochastic has risen to 46 points, on course to return to the midline, while the RSI has edged higher to 50 points.
The MACD histogram remains negative but improving. Support can be found at RM1.80 and RM1.47.
Life Water Bhd rose for a third straight day as it maintained a steady uptrend on robust momentum.
After breaking free from a resistance of RM1.68, the share is looking for greener pastures, buoyed by healthy technical indicators.
The slow-stochastic is rising at 71 points while the 14-day relative strength index (RSI) has risen to 67 points. The daily moving average convergence/divergence (MACD) histogram has extended a higher positive bar to reflect the growing bullishness.
Support for the share is pegged to RM1.51 and RM1.22.
