KPOWER Bhd (code:7130) made a strong advance towards the 50-day simple moving average (SMA) yesterday, which ended the sideways trading it has been seeing since March.
The stock also broke through the descending trend line that began since it fell off its peak on Jan 19. However, a more convincing signal of a sustained recovery would be a bullish crossing of the 50-day SMA, which would signal strong bullish sentiment and increased buying interest as the stock resumes its recovery.
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