Pelikan International Corp Bhd
remains supported by the short-term 14 and 21-day simple moving averages (SMAs) and sits comfortably above an ascending price trend.
As momentum continues to grow on the technical indicators, the share is looking to reclaim its recent high at 91.5 sen, which in crossing would see the resumption of an 11-month uptrend.
The slow-stochastic has crossed the mid-line at 51 points while the 14-day relative strength index (RSI) is looking strong at 56 points.
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