Leong Hup International Bhd
made a move past the 76 sen resistance in intraday trade yesterday.A confirmed breach in the coming session will affirm a growing rally, backed by increasing positive momentum.
The technical indicators are painting a positive picture with the slow-stochastic rising to a robust 60 points while the 14-day relative strength index (RSI) has subsided below the overbought line at 69 points.
The daily moving average convergence and divergence (MACD) histogram is also steering higher with successively higher positive charts.
Based on the daily price chart, the resistance levels rest at 85 sen and 96 sen. Support is found at 68.5 sen and 62.5 sen.
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