SupportLine

SCICOM (MSC) Bhd broke out of a sideways pattern yesterday in a bid to reclaim the recent peak of RM2.

It is currently outpacing the 14- and 21- day simple moving averages (SMA), which bodes well for the continuation of the uptrend.

The technical indicators have turned higher with the slow-stochastic arriving at 58 points and the 14-day relative strength index (RSI) rising to 63 points.

The daily moving average convergence/divergence (MACD) histogram has turned bullish with a sharply positive signal.

Support is found at RM1.80 and RM1.60.

IGB real estate investment trust remains moving along a horizontal plane as the consolidation trend remains intact.

Nevertheless, the slow-stochastic was seen bouncing out of oversold territory and making a positive signal earlier this week, suggesting some upward retracement is in the offing.

The momentum indicators are regaining strength, as can been seen in the RSI rising to 49 points and the MACD charting a higher positive bar.

The share is facing resistance at RM2.80, a breach of which should end the current sideways trading and see the share rise towards RM3.

Support is pegged to RM2.68 and RM2.51.

THMY Holdings Bhd is showing signs of growing momentum as it resumes a positive trend towards the RM2 level.

The momentum indices have turned bullish with the slow-stochastic rising to 77 points and the RSI at 58 points. The MACD has also made a bullish signal with a positive bar.Based on the daily price chart, the share is supported by the 14-, 21-, 50- and 100-day SMA lines, which lends evidence to a broader uptrend.

Support for the share lies at RM1.60 and RM1.40.

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