Ho Wah Genting
Ho Wah Genting Bhd
shot higher yesterday in intraday trade as the trading volume picked up to its highest since February 2023.The pick-up in buying interest saw the stock cross above the 200-day SMA but fail to hold on to its gains at the close of trading.
In the event of a successful crossing, the share could aim for a higher share price of 16.5 sen before making its way to 20 sen.
The technical indices are growing stronger with the slow-stochastic rising to 41 points and the RSI gaining ground to 54 points.
The daily moving average convergence/divergence line is rising towards the zero line to positive territory. Support for the share is pegged to 10 sen and 7.5 sen.
Padini
Padini Holdings Bhd is poised to extend its positive trend as after a brief consolidation period.
The stock yesterday arrived at a recent closing high of RM4.10, which in crossing should see its share price rally to a higher price target of RM4.77.
Looking at the daily price chart, Padini’s recovery remains well-supported by the ascending key simple moving averages (SMA).
The slow-stochastic has risen to an overbought level of 86 points, but remains bullish, while the 14-day relative strength index (RSI) is looking strong at 64 points.
There is price support at RM3.92 and RM3.68.
Sunsuria
Sunsuria Bhd has found support at the 14-day SMA line after a correction earlier this week.
Investors were seen taking profit following a surge in the share price in early April amid record levels of trading volume.
However, the correction could have come to an end as signalled by the slow-stochastic turning higher from oversold conditions.
While the bullish momentum has subsided for now, there could be some positive retracement towards the 69 sen recent closing high. Support for the share is found at 57 sen and 41 sen.
