Joshs Finance

Technical indicators encouraging for PMB Tech, says JF Apex – The Edge Markets MY

KUALA LUMPUR (Aug 2): JF Apex Securities Bhd said PMB Technology Bhd gained 21 sen to RM3.15 on Monday to break the 100-day moving average at RM3.

In a Technical Stock Pick note on Tuesday (Aug 2), the research house said Monday’s gain broke the downtrend from RM4.38 in February 2022.

“Technical indicators are encouraging as the RSI (reading at 69) has entered the overbought zone, while the MACD is trending above its signal line in the positive region.

“For the downside, if the price falls lower, the first stop-loss level stands at RM2.83, marked by its 50-day moving average,” it said.

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