Eastern & Oriental Bhd
surged yesterday to clear the 200-day simple moving average (SMA) as its resumed a bullish trend.
Following this latest price jump, the slow-stochastic has risen to overbought conditions at 80 points while the 14-day relative strength index is also overbought at 70 points.
While there may be pressure to consolidate over the near term, this is expected to be brief as the share resumes its uptrend past the 83 sen resistance. Meanwhile, higher resistance can be found at 91.5 sen.To the lower end of the chart, support is found at 70 sen and 60 sen.
...