Astro’s share price surged 26.0 sen (7.93%) yesterday with its trading volume picking up. After trading range bound in the range of RM3.25-3.35 in the past two months, its share price has broken out from its Fibonacci resistance of RM3.48 with a long white candlestick. Short-term trend appears to be slightly bullish with MACD diverging from the Signal line further on an uptrend. Momentum also appears to be positive with both Stochastic and RSI indicators hooking upwards. If buying pressure persists, Astro could retest its all-time-high at RM3.68 (R1) and RM3.89 (R2) possibly next.

 

 

 

Source: Kenanga