Adventa Bhd
is attempting to pull out of a descending trend, which stretches back from six months earlier.
A recent crossing above the 50-day simple moving average (SMA) indicates that some bullish sentiment is creeping back into the stock, paving the way for some short-term recovery.
In the event of sustained buying interest, the share price could head towards a resistance of RM1.45, which in crossing would see it target RM2.04.
The momentum indicators are improving, most notable the MACD, which has crossed above the zero line to indicate a budding uptrend. The slow-stochastic and 14-day relative strength index are also bullish above 70 points.
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