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MALAYAN Flour Mills Bhd is gaining momentum as it approaches the 200-day simple moving average (SMA).

While the counter has yet to return to an uptrend, the overhead moving average serves as an attractive target, a crossing of which would be a crucial turning point.

The share price has been on a rebound since hitting bottom at 47 sen in late January this year. Its gradual positive retracement has seen it cross over the 50- and 100-day SMAs in what can be seen as a return to more positive sentiment.