Malaysian Pacific Industries
Bhd appears to be hanging on to recent gains despite some profit-taking in the technology sector.The stock was seen falling towards the 100-day simple moving average (SMA) on Monday, but it managed to avoid a negative crossing.
Yesterday, the share was seen rising again.
The uptrend remains intact and can take flight once the descending slow-stochastic uprights itself following the conclusion of the neutralisation phase.
The stock is seeing resistance at RM31.70 overhead, a breach of which would see the bulls rise towards a 3½-month high of RM34.48.
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