Hibiscus Petroleum Bhd
jumped to the 50-day simple moving average (SMA) yesterday, in a third consecutive day of gains.
The share would trigger a bullish signal if it should cross above the resistance, and make its way towards a price target of RM2.33.
Higher still, the share sees resistance at RM2.45.
The technical indicators support an optimistic view with the slow-stochastic gaining to 57 points and the 14-day relative strength index (RSI) advancing to 54 points.
The daily moving average convergence and divergence (MACD) histogram has also charted a positive bar to indicate positive momentum.
Support for the share lies at RM1.97 and RM1.80.
Malayan Flour Mills Bhd's recovery is picking up speed, with a challenge of the 100-day SMA line yesterday reflecting the strong momentum.
The share is poised to cross the resistance, which in doing, would see it take out the 80 sen hurdle to approach the 90 sen recent closing high.
The technical indices are showing robust momentum with the slow-stochastic at 69 points and the RSI at 59 points.
The MACD histogram, meanwhile, is also charting higher positive bars to suggest rising momentum.
Support is pegged to 70 sen and 60 sen.
RCE Capital Bhd bounced higher in intraday trade yesterday but succumbed to profit-taking to end unchanged.
The share is staring at the 50-day SMA line overhead, which if taken out, would signal an extension of the recovery.
Higher resistance is seen at the historical closing high of RM1.70.
At present, the momentum on the slow-stochastic remains weak at 28 points, although it is seen building alongside the RSI, currently sitting at 37 points.
The MACD histogram remains descending, reflecting the bearish momentum.
Support for the share is found at RM1.50 and RM1.40.
The comments above do not represent a recommendation to buy or sell.
