Pharmaniaga Bhd
has undergone a bout of profit-taking after rallying over the past week.
The share slipped below the 50-day SMA as the technical indicators neutralised from overbought conditions.
At yesterday’s close of RM1.22, the share broke below the 50-day SMA line, suggesting bearish sentiment.
The slow-stochastic index has retreated from overbought conditions at 77 points, which suggests consolidation.
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