KESM Industries Bhd
bounced higher yesterday but failed to break out of a consolidation phase. The share could make an attempt to breach an upper hurdle of RM4.22 as its slow-stochastic crossed out of oversold levels and signalled a “buy” call.
The RSI is also looking more bullish as it approaches 50-points. The MACD histogram, meanwhile, is poised to make a bullish signal by charting a positive bar after nearly two months in the red.
Resistance is found at a five-week trading high of RM5.05 while support is pegged to RM3.59 and RM2.80.
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