SupportLine
Genetec Technology Bhd rose for a second straight day yesterday as it angles towards a recent high of RM2.38. A positive breach of the resistance would spur the stock’s recovery rally towards a one-year high of RM2.90.

The momentum has been growing more bullish with the slow-stochastic gaining to 68 points and the 14-day relative strength index (RSI) rising to 63 points.

The daily moving average convergence/divergence (MACD) histogram turned positive yesterday to indicate the resumption of bullish momentum.

Support for the share is found at RM2.15 and RM1.85.

MI Technovation Bhd continues to build on the bullish momentum that started in May.Based on the daily price chart, the technical outlook is promising with the key simple moving average (SMA) providing rising support for the uptrend.

The share is reaching for a higher price level at RM3 and, beyond that, RM4.45.

The slow-stochastic rose to 62 points, while the RSI remains healthy at 75 points as it bounced off the overbought line.

The MACD histogram also maintains a bullish momentum, and reflects a positive trend.

Support is found at RM2.10 and RM1.77.

Guan Chong Bhd may have halted a brief period of profit-taking to regain a firmer footing.Yesterday, the counter rose after thee consecutive days of losses that saw price levels retrace lower from record levels of trading.

The slow-stochastic fell from overbought levels to 29 points, but could be reaching the end of its neutralisation phase.

The RSI, meanwhile, remains strong at 65 points after falling from overbought levels, while the MACD remains afloat in positive territory.

Given the positive trend remains intact, the share could be resuming its rally past the historical high of RM4.45 and beyond.

Support for the share is pegged to RM3.75 and RM3. The comments above do not represent a recommendation to buy or sell.
Support Line,Genetec,MI Technovation,Guan Chong
Genetec Technology Bhd rose for a second straight day yesterday as it angles towards a recent high of RM2.38.