New Hoong Fatt Holdings Bhd
rose for a fourth consecutive day yesterday as it continued its rebound towards a recent peak of RM4.16.
The share remains on a bullish uptrend as evidenced by the rising slow-stochastic to 74 points and the 14-day relative strength index (RSI) to 57 points.
The daily moving average convergence and divergence (MACD) histogram, meanwhile, is displaying a shrinking negative bar to indicate a gradual return to positivity.
Given the strength of the ascending trend line, the share could be headed for a historical trading high of RM4.44.
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