SCIENTEX Bhd has continued its price surge, with yesterday's performance indicating that the rally still has legs.
With eight straight sessions of gains, the share is looking to surpass a four-month high set at RM3.85, which would also serve as a 50% retracement of the losses recorded between last December and September this year.
In doing so, the share would target a higher hurdle of RM4.20.
The technical indicators are flashing overbought signals given the recent steep climb. While the share is due for a breather, the rally could well continue shortly after, now that a strong uptrend has been established.
Support lies at RM3.57 and RM3.44.
KERJAYA Prospek Group Bhd broke out of a consolidation phase as it sought to breach a trading high of RM2.41 from last December.
Positively, yesterday's rally was accompanied by strong trading volume, as well as rising momentum in the indicators.
The slow-stochastic is growing at 44 points while the 14-day relative strength index (RSI) sits at 72 points.
The daily moving average convergence/divergence (MACD) histogram as jumped to a positive bar.
There is support at RM2.12 and RM2.
MAH Sing Group Bhd ended flat yesterday as it remains trapped within a sideways channel.
The share could move out of its consolidation phase as it challenges the recent high of RM1.29, although the descending 200-day simple moving average line would serve as a stiff cap on further gains.
A successful breach of the hurdles could see a a lift towards a January trading high of RM1.92.
Looking at the technical charts, the slow-stochastic has risen to a high 57 points while the RSI is approaching the 50-point centre to suggest bullish momentum.
The MACD histogram is also trending higher, reflecting the growing positive momentum.
Support is pegged to RM1.09 and RM1.
The comments above do not represent a recommendation to buy or sell.