Eastern & Oriental Bhd is experiencing some consolidation pressure after having surged to a recent peak of 96.5 sen. However, the share’s uptrend remains intact while upside momentum continues to be strong. The continuation of a rally is supported by the surging daily moving average convergence/divergence line, which continues to pace higher.

       Calming the rally, the slow-stochastic has retreated slightly in overbought territory, indicating profit-taking pressure while things neutralise over the near term.

       In crossing the recent high of 96.5 sen, the share could be targeting resistance of RM1.16. Support is at RM 74.5 sen and 62 sen.

       Tropicana

       Tropicana Corp Bhd is bouncing back from a correction, with gains recorded over five straight sessions.

       The share, however, remains trapped by the 200-day simple moving average (SMA), which in surpassing could free the share to roam higher to higher targets at RM1.38 and RM1.52.

       Looking at technical indicators, the outlook is promising given the rising slow-stochastic at 80 points and the MACD, which has curved higher to tackle the signal line.

       StarPicks

       ENERGISING MALAYSIAN HOCKEY

       The 14-day relative strength index has also crossed the 50-point mark to suggest growing bullishness. Support for the share is pegged to RM1.22 and RM1.11.

       Sime

       Sime Darby Plantation Bhd’s technical outlook has grown more promising since last Monday’s surge that triggered a surge in bullish momentum in the stock.

       The technical indices have grown more optimistic since then with the slow-stochastic rising to 69 points and the RSI gaining to 56 points.

       The MACD histogram has also charted a higher positive bar to indicate growing positive momentum.

       Overhead, the share is targeting the RM4.61 mark, which in crossing could see a return to a 2022 high of RM5.39. Support, meanwhile, is found at RM4.30 and RM4.12.