Malaysia Airports Holdings Bhd
rose for a third straight day yesterday as it attempted to end a consolidation phase and return to a recent high of RM7.80.
The share is seeing growing bullish momentum as seen in the slow-stochastic, which has risen to 51 points and the 14-day relative strength index (RSI) at 45 points.
Should the share breach the RM7.80 level, it will resume its uptrend towards a multi-year high of RM8.55.On the lower end of the chart, support is found at RM7.10 and RM6.60.
Citaglobal Bhd jumped above the 200-day simple moving average (SMA) line yesterday to signal a fresh attempt to break free of the sideways trading channel.
The slow-stochastic is gaining positive momentum but remains weak at 22 points while the RSI has turned bullish at 53 points.Meanwhile, the daily moving average convergence and divergence (MACD) line remains in positive territory but below the signal line, which in crossing would be a bullish development.
Resistance for the share is found at RM1.52 and RM1.75 while support can be found at RM1.40 and RM1.32.
MR DIY Group (M) Bhd has been moving in a tight sideways trading channel, capped by the overhead 100-day SMA line.However, a potential breakout could be in the offing as the momentum remains bullish on the technical indicators.
At present the slow-stochastic is at a bullish level of 63 points while the MACD has crossed the zero line into positive territory.With the resumption of buying interest, the share could attempt to surpass the 200-day SMA and hit the RM1.70 level.
A successful breach would signal the start of a recovery trend towards the RM2 mark.Support for the share is pegged to RM1.37 and RM1.13.
The comments above do not represent a recommendation to buy or sell.
