Kotra Industries Bhd
crossed above the 21-day simple moving average (SMA) line as it continued its recovery yesterday towards an all-time closing high of RM6.69.
The stock is seeing growing momentum in both the daily moving average convergence/divergence (MACD) line and 14-day relative strength index (RSI) while the slow-stochastic has flattened out after a decline.
Going by the bullish outlook on the daily price chart, the stocks looks likely to maintain its upside bias as it attempts to reclaim record trading levels.
The share price is currently moving above the 50-day SMA, but should it pullback below the line, the stock could be headed for the support at RM5.85.
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