DRB-Hicom Bhd
has lifted above the 50-day simple moving average (SMA) for the first time in a month as the share attempts to break out of a consolidation phase.
The technical indices have lifted to firm levels with the slow-stochastic rising at 59 points and the 14-day relative strength index (RSI) climbing at 55 points.
The daily moving average convergence/divergence (MACD) histogram has charted a longer upward bar, reflecting the growing bullishness.
With the rising momentum, the share is looking at a resistance at RM1.24, which in crossing would see the share ascend to a higher hurdle at RM1.35.
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