EG Industries Bhd
broke free of the key simple moving averages (SMA) as turnover surged amid strong buying interest.
The share jumped above the 200-day SMA and is looking towards a recent high of RM1.70, following which it could return above RM2 for the first time in two decades.
The slow-stochastic is looking bullish at 55 points while the 14-day relative strength index (RSI) has risen to 64 points.
The daily moving average convergence/divergence (MACD) histogram has also spiked higher, indicating growing momentum in the uptrend.
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