SRIDGE climbed 0.5 sen (+2.04%) to end at RM0.250.
Chart-wise, trend line is bullish since early July, with the share currently hovering above 50-day and 100-day SMAs.
However, we think the share is due for a retracement soon given that it failed to overcome heavy selling pressure around the RM0.250 resistance level. Given the downward trending of MACD below the signal line, the share may be on course for a bearish move.
Should momentum taper off, downside support can be identified at RM0.230 (S1) and 0.200 (S2) further down.
Meanwhile, should buying momentum picks up, we expect the share to advance towards RM0.285 (R1) and RM0.317 (R2).
CARING (Not Rated)
CARING gained 4.0 sen (+2.44%) to close at RM1.68 yesterday.
Yesterday’s bullish candlestick saw it broke past key SMAs, possibly indicating a continued bullish move ahead.
Moreover, encouraging momentum readings are indicated by meaningful upticks in the RSI and stochastic as well as bullish MACD above signal line.
We look towards RM1.74 (R1) with a decisive breakout will see the share advancing towards RM1.83 (R2).
Conversely, immediate support can be at RM1.50 (S1), and further down at RM1.45 (S2)
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 7117 views | 6 d ago
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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....