Duopharma Biotech Bhd
maintained a rally for a fourth day yesterday but it appears the strong buying sentiment may soon take a pause.
The share has surged about 18% so far this week on high trading volumes, which has brought the technical indicators to overbought levels.
Hitting resistance of RM1.45 in intraday trading yesterday, the share is poised to rest while the the price undergoes a brief consolidation.
The slow-stochastic is showing signs of neutralisation at the overbought level of 88 points while the relative strength index (RSI) remains firm at 80 points.
The daily moving average convergence/divergence (MACD) histogram is showig consecutively higher bars, indicating strong bullish momentum.
Support for the share is pegged to RM1.30 and RM1.15.
dayang
Dayang Enterprise Holdings Bhd remains trapped in a consolidation channel, but rising technical indicators suggest the share may embark on a rebound.
Based on the daily price chart, the share is under pressure from the falling short-term 14- and 21-day simple moving average (SMA) lines.
However, an uptick in momentum on the slow-stochastic to 55 points, and the RSI to 40 points, suggest the share is slowing rising out of the doldrums.
The MACD is also charting higher positive bars to signal gaining momentum.
Support for the share rests at RM2.10 and RM1.97.
superlon
Superlon Holdings Bhd gapped up at yesterday's opening bell in a show of bullish strength as its recovery gained momentum.
The share, which had been undergoing a correction from June to September, has been attempting to retrace its steps in recent days.
Overhead, the share is facing resistance in the form of the 200-day SMA, which in crossing, could see a retracing to RM1.13.
Further gains could see the share close a trading gap at RM1.26.
The slow-stochastic, which has been neutralising, remains at a firm level of 55 points, while the RSI is strong at 62 points.
The MACD histogram remains positive and gaining in strength.
Support is found at 82 sen and 75 sen.
The comments above do not represent a recommendation to buy or sell.
