Dec 22, 2009

DAYANG (stock code 5141) to climb


dayang Dayang Enterprise Holdings Bhd (Dayang) staged a technical rebound yesterday.

Its daily price trend closed at RM1.58, giving a day-on-day gain of 10 sen, or 6.76 per cent.

Chartwise, Dayang's daily price trend rose from its low of RM1.02 on July 12 all the way down to its intra-day low of RM1.50 on November 17, giving a total loss of 48 sen, or 47.06 per cent.

Its hourly price trend staged a technical breakout of its immediate overhead (B3:B4) on December 21. It continued to stay above its intermediate-term uptrend (B1:B2) at the market close yesterday.

Its hourly fast MACD (moving average convergence divergence) continued to stay above its hourly slow MACD yesterday. Both of its hourly fast and slow MACDs continued to stay above their respective neutral reference lines.

Dayang's hourly price trend is likely to embark on a gradual climb over its near-term perspectives.

The subject expressed above is based on technical analysis and opinions of the writer. It is not a solicitation to buy or sell.

source: business times