Greatech Technology Bhd
may have finally found its footing after its share price embarked on a correction four weeks prior. The decline, which erased all the headway made in December 2023, saw the share slipping below the 200-day simple moving average on Tuesday.
However, yesterday's rebound saw the share firming up above the 200- and 100-day simple moving average (SMA) lines. The technical indicators, which had descended into oversold levels, were seen neutralising.
The slow-stochastic has crossed to 25 points while the 14-day relative strength index (RSI) has bounced higher to 44 points. While weak, the share could continue retracing higher, with resistance levels resting at RM4.84 and RM5.08.Support can be found at RM4.45 and RM4.15.
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