Guan Chong Bhd
’s brief bout of profit-taking looks ready to end as the share turned higher yesterday upon finding support at the 14-day simple moving average (SMA).
The share is looking to reclaim its recent losses and move higher still on a robust uptrend with its sights on RM1.49.
Past this resistance, the share is likely to aim for RM1.70, which was last achieved in January 2025.
The slow-stochastic has stabilised at 66 points, while the 14-day relative strength index (RSI) is rising at 60 points. The daily moving average convergence/divergence (MACD) histogram has dipped into negative territory, but is expected to turn its head around.
...