Looking at the chart of Poh Kong Holdings Berhad (MYX:POHKONG) and using the Moving Averages indicator, we can see that the stock has been trading above its 50-day moving average (MA) for most of the past few months. This indicates that the stock has been in an uptrend, and traders may want to consider buying on dips.
However, there have been some recent bearish signals, as the stock has fallen below its 20-day MA and the 20-day MA has crossed below the 50-day MA. This suggests that the short-term trend may be turning bearish, and traders may want to be cautious about buying at current levels.
In terms of potential support and resistance levels, there is some near-term support around the RM0.85 level, which was a previous resistance level that the stock broke through in early September. On the upside, there is potential resistance around the RM1.00 level, which was a previous high that the stock reached in late August.
Overall, traders may want to wait for more clarity on the stock's short-term trend before making any trades. If the stock can regain its upward momentum and break above the RM1.00 level, it could be a bullish sign. However, if the stock continues to trade below its 20-day and 50-day MAs, it could be a bearish signal.
However, there have been some recent bearish signals, as the stock has fallen below its 20-day MA and the 20-day MA has crossed below the 50-day MA. This suggests that the short-term trend may be turning bearish, and traders may want to be cautious about buying at current levels.
In terms of potential support and resistance levels, there is some near-term support around the RM0.85 level, which was a previous resistance level that the stock broke through in early September. On the upside, there is potential resistance around the RM1.00 level, which was a previous high that the stock reached in late August.
Overall, traders may want to wait for more clarity on the stock's short-term trend before making any trades. If the stock can regain its upward momentum and break above the RM1.00 level, it could be a bullish sign. However, if the stock continues to trade below its 20-day and 50-day MAs, it could be a bearish signal.
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