GTRONIC’s share price rose 24sen or 5.4% to close at RM4.70 yesterday. The closing price broke out from all the SMA trend lines to form an uptrend movement. Meanwhile, MACD indicator was inconclusive with the sideway movement to paint a neutral picture. However, both Stochastics and RSI indicators were observed hooking upwards, with the former surging beyond the overbought region to showcase positive buying momentum. Should the buying volume pick up, we expect the share price to test its next immediate resistance of RM4.74 (R1) before challenging the high of RM5.20 (R2).

 

 

Source: Kenanga