ASTRO turned bullish yesterday having crossed above 50-day SMA line to close at RM3.06 (+8.0 sen). Technically, the share price has confirmed a bottom reversal pattern from last Friday’s “Doji” candlestick, and  this has further reinforced the RM2.92 resistance-turned-support. Furthermore, the Stochastic indicator looks to be improving after a breakout from the oversold level. Next up, traders may look forward to a retest of the RM3.09 resistance/20-day SMA line. A successful close above this level would pave the way for a further move towards RM3.23 next.

 

Source: Kenanga