Malaysia Smelting Corp
Bhd’s recovery is picking up speed, having crossed above the 21-day simple moving average (SMA) line as it ends the correction that began in mid-August.
As it retraces higher, the share is looking at resistance at RM1.80 and RM1.95.
The slow-stochastic has risen out of oversold conditions to 36 points, while the 14-day relative strength index (RSI) is also improving at 40 points.
The daily moving average convergence/divergence (MACD) histogram is poised to chart a positive bar, signalling a return to bullish momentum.
Support for the share lies at RM1.60 and RM1.35.
Hartalega Holdings Bhd jumped past the 100-day SMA yesterday on a resurgence of buying interest.
The share has broken free of the consolidation channel, surpassing a resistance at RM1.09.
Having achieved a more bullish footing, the share may extend its advance towards RM1.38.
The slow-stochastic has spiked to 53 points, signalling a bullish rally.
The RSI is strong at 67 points while the MACD histogram has turned positive, indicating a return to bullish momentum.
Support is pegged to 89 sen and 81 sen.
Dayang Enterprise Holdings Bhd is facing some downward pressure at the 21-day SMA line as it attempts to end a five-month downtrend.
To end the ongoing consolidation, the share is looking at surpassing a resistance level of RM1.57, before targeting RM1.74.
The slow-stochastic remains short of the 50-point midline, signalling weak momentum. However, the MACD has charted three successively higher positive bars to signal growing momentum.
The RSI remains weak at 41 points.
Support for the share lies at RM1.42 and RM1.16.
