Central Global Bhd
challenged its recent trading high of RM3.15 yesterday as it attempted to shrug off consolidation pressures to resume an uptrend. The share has been moving in a sideways trajectory since its rally stalled last October.
However, the upside bias remains present on the price chart, where the share remains trading above the key simple moving averages.Looking at the technical indicators, the slow-stochastic has turned higher, just below the 50-point mark while the 14-day relative strength index (RSI) is robust at 66 points.
The daily moving average convergence and divergence (MACD) histogram has also charted a positive bar, indicating growing bullishness.The share sees resistance at RM3.80 while support is found at RM2.86 and RM2.48.
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