SupportLine

SUPERMAX Corp Bhd continues to rise amid positive newsflow, breaching the 50-day simple moving average (SMA) yesterday in a sign of bullish sentiment.

The share continues to pace higher as it aims to recover to higher levels of RM1.05 and RM1.12.

All the technical indicators suggest upside momentum, with the slow-stochastic arriving at 67 points and the 14-day relative strength index (RSI) rising to 61 points.

The daily moving average convergence/divergence (MACD) histogram is trending higher with longer positive bars.

Support for the share is found at 70 sen and 65 sen.

KOSSAN Rubber Industries Bhd gapped higher yesterday but failed to close above the 50-day SMA line, indicating some measure of caution despite the bullish momentum.

Going by the current trend, however, the stock is expected to arrive at a resistance of RM2.50, which in crossing would put it en route to its 2024 year-end price of RM2.83.

The slow-stochastic has gained to 65 points while the RSI is also strong at 56 points. The MACD charted a stronger positive bar yesterday to reflect the momentum surge.

Support is pegged to RM1.64 and RM1.45.

HARTALEGA Holdings Bhd rose for a third straight day yesterday, after gapping up on a burst of bullish momentum.

However, the share remains firmly below the 50-day SMA line, with resistance pegged near RM2.50. A positive crossing of the hurdle could see the share rise to a resistance level of RM3.60.

The slow-stochastic has risen to 75 points, suggesting strong upside momentum, while the RSI was risen to 56 points. The MACD histogram is also on a bullish path with successively higher bars.

Support for the share lies at RM1.77 and RM1.40.

The comments above do not represent a recommendation to buy or sell.