MN Holdings is seeing a gradual pick-up in momentum after rising for five consecutive days and crossing over the 50-day simple moving average (SMA) earlier this week.
The share is approaching a historical closing high of RM1.07, which was hit prior to a correction in the latter half of August 2024.
Looking at the technical indicators, the slow-stochastic is nearing overbought territory but remains on an ascending path.
The 14-day relative strength index (RSI) is looking bullish at 57 points while the daily moving average convergence/divergence (MACD) histogram is also charting consecutively higher bars.
Support for the share is pegged to 85 sen and 71 sen.
Master TEC Group Bhd
hovered at the 14-day SMA line as it attempted to break out of a consolidation channel.
A successful breach of the hurdle at RM1.20 could confirm a return to an uptrend, while setting its eyes on a higher target of RM1.40.
The slow-stochastic has climbed to 60 points and the RSI to 51 points to suggest bullish momentum, while the MACD histogram is on the verge of charting a positive bar.
Support is found at RM1 and 91 sen.
Cahya Mata Sarawak Bhd saw some profit-taking yesterday, even as the share remains on a recovery trend towards pre-correction levels in July 2024.
While seeing some consolidation pressure, a positive cross between the 21-and 50-day SMA lines earlier in the week helps to affirm a positive push in the share price towards a break out level at RM1.50.
If successful, a breach could see the share embarking on a rally towards RM2.
There is some slowing in the slow-stochastic to 48 points. Meanwhile, the RSI remains strong at 53 points and the MACD histogram is reflecting positive momentum.
Support for the share lies at RM1.28 and RM1.10.
