Pentamaster Corp Bhd challenged the 100 and 200-day simple moving averages (SMA) yesterday as it trended higher after breaking out of a consolidation channel last week.
The outlook on the daily price chart is turning more optimistic as the share price continues to recover to May's level of trading.
In the event of a sustained push pas the moving averages, the share price should rise to RM5.58, a crossing of which would take it to the RM6 level.
The technical indicators are showing signs of being overbought, which could mean a breather before the stock makes further gains.
Support is found at RM4.90 and RM4.54.
JF Technology 140721
JF Technology Bhd 's consolidation channel remains intact after yesterday's advance failed to crack the immediate resistance of RM1.45.
However, there are expectations of a eventual breach given the growing positive momentum.
The daily price chart is also looking bullish as the stock continues to trade above all the key SMA lines
Next resistance can be seen at RM1.58 while support is pegged to RM1.33 and RM1.24.
The slow-stochastic is bullish at 61 points while the 14-day relative strength index (RSI) is also creeping higher at 65 points.
Supermax 140721
Supermax Corp Bhd advanced yesterday in what looks to be a continuation of a consolidation channel that has started following a steady decline.
The stock has been moving sideways over recent sessions, suggesting that the correction phase could have bottomed out for now, and some bargain-hunting is offering upwards pressure.
Nevertheless, the 21-day SMA continues to offer immediate resistance, although a positive breach would see the share price rising towards the RM3.65 level.
Beyond that, next resistance is pegged to RM4.
The technical indicators are looking strong with the slow-stochastic and 14-day RSI trending higher above 50%.
Support is seen at RM3.04 and RM2.53.
The comments above do not represent a recommendation to buy or sell.