Yinson Holdings Bhd
is rebounding after a three-week correction as bargain-hunting activities take root.
The share has risen for two consecutive days to rest atop the 50-day simple moving average (SMA) line at RM2.37, which in crossing should see a rally towards a resistance at RM2.48.
Looking at the technical indices, conditions have improved with the slow-stochastic looking robust at 62 points and the 14-day relative strength index crossing the 50-point midline.
The daily moving average convergence/divergence (MACD) histogram is also retracing higher to suggesting growing bullishness.
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