Friday 29 Mar 2024
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KUALA LUMPUR (July 19): PublicInvest Research said GD Express Carrier Bhd retraced but was still well-supported above medium term EMA despite market weakness.

In a trading ideas note today, the research house said as recent uptrend remains intact, neutral reading as indicated by RSI and MACD currently signal reasonable entry level to buy the dip, with anticipation of improvement in both momentum and trend in near term.

“Should resistance level of 32 sen be broken, it may continue to lift price higher to subsequent resistance level of 34.5 sen.

“However, failure to hold on to support level of 29.5 sen may indicate weakness in the share price and hence, a cut-loss signal,” it said.

 

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