Ipmuda Bhd’s ascent has only grown steeper in recent days, reflecting the pick-up in bullish momentum.

       The slow-stochastic and RSI have hit overbought conditions amid the growing sentiment but remain on a bullish trajectory.

       The daily moving average convergence/divergence line is also on the rise, outpacing the signal line in a sign of growing bullish sentiment.

       Following yesterday’s rally, the stock has risen near a resistance of RM1.90, a breach of which could see a return to the recent peak of RM2.20. Support can be found at RM1.55 and RM1.30.

       Eco World Development Group Bhd broke out in late trading to breeze past the resistance of RM1.13 before retreating to RM1.10.

       Trading volume surged to its highest since April.

       Should it confirm a breakout, the stock will see a continuation of its uptrend to a higher resistance of RM1.30.

       Failing in crossing the hurdle, the stock will remain within a consolidation phase and descend towards the resistance-turned-support of RM1.13. A break below this level would see the share price descend to RM1.03.

       The indicators are pointing to a continued bullishness in the stocks as the slow-stochastic rises further towards the 50% after a brief dip into oversold territory.

       The 14-day relative strength index (RSI) also remains bullish, albeit overbought.

       PIE Industrial Bhd succumbed to profit-taking yesterday after bypassing a historical high in intra-day trading amid strong trading interest.

       Trading volume yesterday was its highest since March.

       Looking at the price chart, the ascending price trend remains in force, suggesting a further challenge of the resistance after a correction period.

       The RSI is neutralising from overbought conditions, while the slow-stochastic has also dipped to 66 points.

       Support for the stock is pegged to RM3.76 and RM3.46.