Supportline

industries bhd crossed above the 21-day simple moving average (SMA) line as it continued its recovery yesterday towards an all-time closing high of rm6.69.

The stock is seeing growing momentum in both the daily moving average convergence/ divergence (Macd) line and 14-day relative strength index (rsi) while the slow-stochastic has flattened out after a decline.

Going by the bullish outlook on the daily price chart, the stocks looks likely to maintain its upside bias as it attempts to reclaim record trading levels.

The share price is currently moving above the 50-day SMA, but should it pullback below the line, the stock could be headed for the support at rm5.85.

Lower support is found at rm5.21. PENTAMASTER Corp bhd rose past its recent high yesterday to resume its uptrend. The stock is angling towards a 13-month high of rm5.70, which would see the stock completely erasing the losses seen during the sharp correction between January and March 2022. The slow-stochastic bounced higher yesterday although it still shows weakness at 41 points. However, the relative strength index (rsi) remains strong at 66 points while the Macd is expected to indicate bullish momentum as it affirms a crossing of the signal line. Support for the stock is pegged to rm4.83 and rm4.41. inari amertron bhd made an advance yesterday but has yet to make a break out of its consolidation channel.

Going by the share price’s jump above the key simple moving averages, it should proceed to rise towards the recent closing high of rm2.80.

in the event of a break out of this hurdle, the stock could be seen advancing to the next hurdle at rm2.95, which was last achieved nearly six months ago.

The slow-stochastic remains falling below the 50-point mid-line, which signals ongoing consolidation.

The rsi, meanwhile, is looking strong at 50 points.

Support for the share is found at rm2.56 and rm2.35.