Supportline

infoline Tec Group Bhd rose yesterday for a third straight session, strengthening its rebound as it attempts to return to a recent closing high of rm1.04.

The stock, which underwent a correction in the final week of december 2022, has mounted a strong recovery trend since hitting a recent low of 77.5 sen on Jan 10 this year.

Looking at the technical indicators, the daily moving average convergence and divergence (Macd) line has tentatively crossed above the signal line, which if confirmed would suggest strong upward momentum.

The slow-stochastic has risen to overbought levels but remains on an upward trajectory.

Support for the stock is pegged to 84 sen and 77.5 sen.

Malaysia airports Holdings Bhd (MAHB) is facing some consolidation pressure as it hovers below a recent closing high of rm7.26.

The stock has been on a strong recovery trend but the technical indicators are showing signs of neutralisation from overbought levels.

The slow-stochastic has slipped below the overbought line to 76 points while the Macd is dipping towards the signal line to suggest falling momentum.

Should the stock overcome the immediate resistance after the profit-taking passes, it is expected to rise towards the next hurdle at rm7.80.

Support meanwhile rests at rm6.96 and rm6.50.

EKOVEST Bhd took a breather yesterday after strong gains the day before.

Given that the share price has blasted past the recent high, the stock is expected to pick up the recovery momentum towards a resistance of 48.5 sen.

The Macd is showing a strong momentum as its continues to outpace the signal line.

The slow-stochastic is approaching the 50-point midline while the relative strength index is at 70 points.

Support for the share is found at 35.5 sen and 33 sen. The comments above do not represent a recommendation to buy or sell.