Pecca Group Bhd
affirmed a crossing of the 200-day simple moving average (SMA) yesterday as it extended its recovery for a fourth straight day.
The share has begun its retracement and is looking towards a resistance at RM1.37, where it will meet the 50-day SMA line.
A positive breach of this obstacle could see the share ascend further to its historical trading high of RM1.50.
There is strong recovery momentum in the technical indices. The slow-stochastic has grown to 74 points while the 14-day relative strength index (RSI) has risen to 48 points.
The daily moving average convergence and divergence (MACD) histogram is climbing close to charting a positive bar, which would signal strong bullish momentum.
Support for the share is found at RM1.25 and RM1.15.
MN Holdings Bhd surpassed a historical high yesterday as it broke out of a consolidation phase to resume a rally.
The daily price chart shows a robust uptrend, while the technical indicators are indicating robust momentum.
The slow-stochastic stands at 71 points while the RSI is peeking into overbought territory at 70 points.
The MACD charted its first positive bar yesterday to suggest bullish momentum.
Support for the share lies at 80 sen and 71 sen.
Jentayu Sustainables Bhd has been in a tight sideways trading channel over recent weeks, but could be looking to break higher once the consolidation comes to an end.
The slow-stochastic remained on a downward trajectory, settling at 28 points, but the RSI has edged higher past the 50-point mid-line. Meanwhile, the MACD histogram is seeing an extending positive bar, which suggests rising momentum.
Resistance for the share is pegged to 95 sen and RM1.04 while support can be found at 80 sen and 50 sen.
