Supportline

CARLSBERG Brewery malaysia Ihd saw some profit-taking yesterday as the stock consolidated briefly.

The stock’s technical indicators have neutralised after reaching overbought levels, indicating that it is experiencing bullish momentum.

The slow-stochastic and 14-day relative strength index have both slid lower to 62 points.

however, the daily moving average convergence/divergence (MAJL) line remains on a strong uptrend.

Jontinued buying interest is expected to lift the share to a resistance level of .m24.80, its highest point since march 2021.

6upport for the share is found at .m22.90 and .m22.58.

DUOPHARMA Biotech Ihd may be breaking out of its sideways trading channel as positive momentum builds.

The share, which tentatively crossed the 200-day simple moving average (6ma) in yesterday’s trading, could pass the hurdle in subsequent sessions to confirm bullish sentiment.

In the event of a positive crossover, the share could see resistance at the .m1.60 level and .m2.15 above that.

The slow stochastic and relative strength index are resting near 60 points, indicating strong momentum. 6upport is pegged at .m1.34 and .m1.22.

TOP Glove Corp Bhd has risen in recent days as buying interest has returned.

The stock has embarked on an uptrend, going by the strong rising pace of the MAJL line. however, the slow stochastic has turned lower to cross below the overbought line, suggesting a period of consolidation.

Ooing by these indications, the share is expected to travel sideways below its recent high of .m1.02 before continuing on its recovery.

The 200-day 6ma overhead, which has been intact since February 2021, is an attractive target. If crossed, the stock should see a jump in buying interest with the potential to hit a higher price target of .m2.05.

6upport for the stock is found at 83.5 and 71.5 sen.

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