MALAYSIAN Resources Corp Bhd (MRCB) blew past the 200-day SMA line yesterday to suggest some further recovery in the near future. The stock, which is attempting to shrug off correction pressures, is looking to extend a rebound.
Going by the bullish signals in the technical indices, some positive movement is expected. The MACD yesterday crossed above the signal line to suggest strong bullish momentum, while the slow-stochastic has surged into overbought conditions at 84 points.
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