Southern Cable Group Bhd
jumped yesterday to a four-month high as it broke free of consolidation pressures to resume a rally.It is looking at a resistance of RM1.03, which in crossing would take it to new record highs.
The technical indicators are showing robust momentum with the slow-stochastic rising to 68 points and the 14-day relative strength index (RSI) gaining to 63 points.
The daily moving average convergence/divergence (MACD) histogram charted a sharply higher positive bar to reflect the growing momentum.
Support for the share is pegged to 82 sen and 75 sen.
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