Supportline

HEITECH Padu Bhd broke out of a brief consolidation as it convincingly crossed above the resistance of 45 sen on yesterday.

At the stock’s current trajectory, it is aiming to return to the peak of RM1.80 recorded on Oct 12.

Based on the daily price chart, the stock remains bullish above all the key simple moving averages (SMA).

While the slow-stochastic and 14-day relative strength index (RSI) have entered overbought levels, they remains healthy in extended overbought mode.

Support for the stock is found at RM1.33 and RM1.20.

MALAYSIAN Genomics Resouce Centre Bhd has been on a sustained rally ever since it bounced higher at the start of the month.

At the current trading level, it is facing immediate resistance at 67.5 sen. A positive breach of this hurdle would see the stock return to a recent high of 84 sen.

The short-term uptrend is well established and the technical indicators remain healthy albeit overbought.

The slow-stochastic is showing signs of neutralising but remains in overbought territory at 90 points. The RSI is also overbought at 76 points but continues to advance in extended mode.

Support for the stock is pegged at 60 sen and 49.5 sen.

GADANG Holdings Bhd is attempting to escape a consolidation channel.

It faces stiff resistance as the falling SMA lines are exerting downward pressure on the share price.

Just overhead, the 100-day SMA presents immediate resistance while the 200-day SMA offers a price target near 45 sen.

There is some slight uptick in the momentum indicators although there needs to be a jump in buying interest for the stock to clear the hurdles lying in the way.

The slow-stochastic and RSI remain strong above 50 and 60 points respectively, while the MACD is creeping nearer the zero line to establish a bullish trend.

Support lies at 38 sen and 36 sen.

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