99 Speed Mart Retail Holdings Bhd
remains under selling pressure as it seeks to end a correction that began about a month ago.
At yesterday’s close, the share was seen struggling for support at the 100-day SMA line. However, as the trading volume continues to fall, the downtrend is expected to peter out to a sideways trading pattern.
On the technical indices, the slow-stochastic is regaining some strength at 43 points. The RSI remains weak at 36 points and the MACD histogram continues to chart negative bars. The share is expected to find support at RM3.35, followed by RM3.
In the event of a rebound, the share sees resistance at RM3.80 and RM4.15.
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