Globetronics Technology Bhd rose for a fourth straight session yesterday and made an intra-day breach of the 50-day simple moving average (SMA).With indications that the investor sentiment has improved, the stock could be poised for a breakout of its consolidation phase.

       Should a crossing of the 50-day SMA be confirmed in coming sessions, the share price could extend its rally towards a recent high of RM2.25.

       The technical indicators are suggesting bullish momentum with the slow-stochastic hitting 77 points and the 14-day relative strength index (RSI) rising to 66 points.

       Support for the stock is found at RM2.02 and RM1.97.

       Kuala Lumpur Kepong Bhd has risen to toppish levels of trading following a breakout on Oct 6.

       While the price trend remains bullish, there are indications that the stock could take a breather and enter consolidation mode at current levels.

       Looking at the technical indicators, the slow-stochastic has subsided below the overbought line as it attempts to neutralise.

       The RSI remains afloat in overbought conditions, but could be turning lower as investors take profit off the recent gains.

       The current resistance stands at yesterday’s trading high of RM23.06, while a resumption of the rally would take it to RM23.48.

       Support is found at RM21.90 and RM21.50.

       QL Resources Bhd could be aiming to cross the RM5.45 resistance in the coming sessions given the rising momentum.

       The hurdle coincides with the 50-day SMA, which if crossed would be a sign of investor optimism in the counter.

       A positive breach would also see the stock resuming its rebound after rising off a trading low of RM5.03 on Oct 6.

       Higher resistance can be found at RM5.55. Support is pegged to RM5.24 and RM5.03.

       The technical indicators are on a rise with both slow-stochastic and RSI crossing above the 50% level.

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