MIKRO MSC Bhd (code: 0112) crossed the 200-day simple moving average (SMA) for the first time since January this year, giving it more bullish prospects as it attempts to recover lost ground.

The stock experienced a steep decline in the earlier part of the year, falling from a peak of 49 sen on Jan 9 to a bottom of 27.5 sen on May 28.

Since then, it has assumed recovery. The 14- and 21-day short-term SMAs are rising, reflecting the recent uptick in fortunes but the longer-term moving average remain tangled in negative positions. This suggests that the long-term bearish formation of the chart has yet to unwind.

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