Supermax Corp Bhd surpassed the 50-day simple moving average (SMA) in Wednesday intra-day trade after three consecutive days of gains.
Following a correction phase, the stock has mounted a recovery that has picked up momentum over recent days. On Wednesday, the stock picked up past the 50-day SMA in a sign of improving sentiment but returned lower by market close.
Despite the profit-taking, the improving conditions of the technical indicators and outlook on the daily price chart suggest the rally could resume over subsequent sessions.
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