MN Holdings Bhd
perked up yesterday as it moves along its sideways trajectory, in the absence of fresh buying leads.
The share, however, showed signs of increasing volume as well as a pick up in positive momentum.
Given the bullish outlook on the daily price chart, the share is expected to cross its historical closing high of RM1.02 to chart new ground.
Looking at the technical indicators, the slow-stochastic has perked up at 37 points, while the 14-day relative strength index (RSI) gained 57 points.
The daily moving average convergence and divergence (MACD) histogram remains negative, indicating bearish momentum that is keeping the share in a consolidation path for now.
Support for the share is pegged to 95 sen and 86 sen.
Jaya Tiasa Holdings Bhd reached a recent trading high of RM1.19 yesterday, which serves as an immediate resistance to the current consolidation.
Upon crossing, the share is expected to reach a target of RM1.37.
The technical indicators are promising as the slow-stochastic has hit a high of 71 points and the RSI is strong at 56 points. The MACD histogram has also risen steeply to indicate positive momentum.
Support for the share is found at RM1.05 and 90 sen.
Edaran Bhd is ramping up for another leg of its rally as it continued to rebound towards a recent peak of RM1.86.
A successful breach of the resistance would see the share hit a multi-ear high of RM2.10.
Looking at the technical indices, the slow-stochastic is turning higher at 63 points to signal a bullish turn. The RSI meanwhile remains ascending at 73 points.
The MACD histogram, meanwhile, continues to maintain a steep positive incline.
There is support at the RM1.44 and RM1.15 levels.
The comments above do not represent a recommendation to buy or sell.
