GDEX gained 3.0 sen (+7.14%) last night to close at RM0.450.
Yesterday’s candlestick saw it broke past the 20-day and 50-day SMAs possibly indicating a bullish run ahead.
Moreover, positive momentum is indicated by meaningful upticks in the RSI and stochastic indicators.
Expect continuous buying interest that may see the share head towards RM0.495 (R1) and RM0.530 (R2).
Conversely, downside support can be found at RM0.400 (S1) and RM0.385 (S2).
SRIDGE (Not Rated)
SRIDGE rose 0.5 sen (+2.17%) to close at RM0.235 backed by 2.4m shares exchanging hand, doubled its 20-day average trading volume.
Trend line is bullish since early July, with yesterday’s close saw a decisive breakout from RM0.230 prior resistance level.
Technical indicators appear in supportive for a bullish move with key SMAs continuously in “Golden Crossover” as well as upticks seen in the MACD, RSI and Stochastic.
Key resistance to look out for in the near-term is RM0.250 (R1). Once taken out, the share is on a clear path for the next leg of "higher high" towards resistance level RM0.285 (R2).
Immediate downside support can be found at the resistance-turned-support level RM0.230 (S1) and RM0.220 (S2) further down.
New IPO: The onshore and offshore support services provider for the O&G industry, Steel Hawk Bhd aims to list on the Ace Market!
MQ Trader 7222 views | 6 d ago
0:17
New IPO: The largest mini-market player and a leading groceries retailer in Malaysia, 99 Speed Mart Retail Holdings Bhd aims to list on the Main Market!
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....