Eversendai Corp Bhd made a break out of its trading channel yesterday to extend a short-term uptrend on strong buying interest. The counter's trading volume surged to its highest in nearly three years while the share price arrived at an intra-day high of 23.5 sen.
The break out could see the start of a recovery towards a resistance of 35.5 sen, and higher still to 45.5 sen.
The technical indicators are robust with the slow-stochastic remaining healthy at 70 points while the 14-day relative strength index is overbought at 79 points.The daily moving average convergence/divergence (MACD) line, meanwhile, has spiked higher at a sharp angle, signalling strong bullish momentum.Support can be seen at 13.5 sen and nine sen.
Stock: [SENDAI]: EVERSENDAI CORPORATION BERHAD
2023-10-19 15:02 | Report Abuse
Eversendai Corp Bhd made a break out of its trading channel yesterday to extend a short-term uptrend on strong buying interest. The counter's trading volume surged to its highest in nearly three years while the share price arrived at an intra-day high of 23.5 sen.
The break out could see the start of a recovery towards a resistance of 35.5 sen, and higher still to 45.5 sen.
The technical indicators are robust with the slow-stochastic remaining healthy at 70 points while the 14-day relative strength index is overbought at 79 points.The daily moving average convergence/divergence (MACD) line, meanwhile, has spiked higher at a sharp angle, signalling strong bullish momentum.Support can be seen at 13.5 sen and nine sen.
https://www.thestar.com.my/business/business-news/2023/10/19/supportline