Click to view larger image.

MI TECHNOVATION Bhd has extended its recovery past the 50-day simple moving average (SMA) in a sign of improving sentiment.

The stock, which experienced a sharp correction between April 26 and May 23, is seeing rising momentum as its recovery rally continues to pick up the pace.

The short-term rally looks likely to continue as the share price travels ahead of the rising 14- and 21-day SMAs.