EG Industries Bhd
is moving along a consolidation channel as it takes a breather following strong gains in June.
Based on the daily price chart, the uptrend remains intact and is buoyed above the rising 14-day simple moving average (SMA) and other key SMA lines.
Upon resumption of an uptrend, the share is expected to rise towards a resistance of RM2.73.
Looking at the technical indicators, the slow-stochastic has neutralised to 44 points and continues to fall. However, the 14-day relative strength index (RSI) remains overbought but bullish at 74 points.
The daily moving average convergence/divergence (MACD) histogram remains positive although the momentum has eased during the consolidation period.
Support for the share is pegged to RM1.90 and RM1.60.
theta 1
Theta Edge Bhd rebounded yesterday to suggest the resumption of an uptrend.
The share is targeting a recent trading high of RM2.02, and a multi-year peak of RM2.49.
Lower down the chart, the share sees support at RM1.60 and RM1.36.
The technical indicators are mixed with the slow-stochastic falling to 30 points, while the RSI remains robust at 58 points.
The MACD histogram also continues to chart positive bards, suggesting ongoing bullishness.
wct 1
WCT Holdings Bhd is poised to continue a rally, with its sights set on a target of RM1.20.
The share remains on a bullish trajectory going by the strong rising trend line and positive technical indices.
The slow-stochastic has subsided to 70 points, which remains a robust level of momentum, while the RSI continues to stay afloat of the overbought line at 75 points.
The MACD histogram, meanwhile, remains positive and charting a higher bar.
Support for the share is pegged to 93 sen and 74 sen.
The comments above do not represent a recommendation to buy or sell.
