Eastern & Oriental Bhd
is experiencing some consolidation pressure after having surged to a recent peak of 96.5 sen. However, the share’s uptrend remains intact while upside momentum continues to be strong. The continuation of a rally is supported by the surging daily moving average convergence/divergence line, which continues to pace higher.
Calming the rally, the slow-stochastic has retreated slightly in overbought territory, indicating profit-taking pressure while things neutralise over the near term.
