KUALA LUMPUR (Dec 28): PublicInvest Research said Guan Chong Bhd’s share price is forming a rounding top, signifying possible halt in prior uptrend.

In a trading ideas note today, the research house said weakening RSI and fast-paced MACD indicators currently signal an exit to sell into strength, anticipating performance in momentum and trend to remain weak in near term.

“Should support level of RM2.64 be broken, it may continue to drive price lower to subsequent support level of RM2.43.

“Note that the potential halt in uptrend presents an opportunity for profit taking instead of intraday short selling,” it said.