PENTAMASTER Corp Bhd (code: 7160) extended its rally with an upside gap at the opening bell to hit an intra-day high of RM3.44 yesterday.

The counter had been pushing ahead on an uptrend since April this year until a sharp correction on Oct 19 changed the technical outlook.

The pullback saw the stock falling off a peak of RM3.75, shaving off 94 sen or 25% of its value to hit a bottom of RM2.81 on Oct 30.

The positive retracement over the subsequent days picked up momentum, leading to yesterday when the stock came within striking distance of the 50-day simple moving average (SMA) at RM3.49.

...

Full Article on TheStar