SENDAI’s share price surged 20.5 sen or 35.7% to RM0.78 on Wednesday, with heavy trading volume seen on the stock. Technically, the share price rebounded after hitting bottom low of RM0.495 with the closing price staying above both 20-Day and 50-Day MA trend lines to suggest an uptrend movement. The positive bias can also be traced by looking at the upward-moving MACD indicators while positive buying momentum was evidenced by RSI and Stochastics indicators, both surging beyond the overbought territory. Should the buying interest be sustained, we expect the share price to challenge the next immediate resistance level and its 100-Day MA of RM0.815.

 

 

Source: Kenanga