Southern Cable Group Bhd
jumped yesterday to a four-month high as it broke free of consolidation pressures to resume a rally.It is looking at a resistance of RM1.03, which in crossing would take it to new record highs.
The technical indicators are showing robust momentum with the slow-stochastic rising to 68 points and the 14-day relative strength index (RSI) gaining to 63 points.
The daily moving average convergence/divergence (MACD) histogram charted a sharply higher positive bar to reflect the growing momentum.
Support for the share is pegged to 82 sen and 75 sen.
MN Holdings Bhd is attempting to rise out of a sideways channel with growing support from the moving averages to indicate the start of an uptrend.
Overhead, the share is looking at a target of RM1.07.
There is growing momentum in the slow-stochastic, which is rising towards the midline to 43 points, and the RSI, which has grown to 60 points.
Meanwhile, the MACD histogram has curved higher to indicate the rising positive momentum.
There is support for the share at 90 sen and 84 sen.
Farm Fresh Bhd continues to trade on a sideways channel near record highs as it bides its time to mount a rally.
Should the share manage to break through the recent trading high of RM1.91, it could chart a new historical peak.
Supporting the share’s ascent is the bullish moving averages, which reflect the uptrend.
The slow-stochastic is curving higher to signal a bullish turn for the share.
The RSI is also strong at 59 points. While the MACD histogram continues to descend, an upward turn in the signal should indicate the resumption of a rally.
Support for the share lies at RM1.84 and RM1.75.
