Gamuda is testing its short-term uptrend

Gamuda is testing its short-term uptrend line. At 4.00 p.m. today, Gamuda's share price was down 4 sen to RM3.90. The uptrend line support is at RM3.94. This means that it is marginally below the uptrend line. It needs to recover above RM3.94 over the next day or two, otherwise the short-term uptrend line is deemed broken. The consequence of this is that the share price may go down further. See the chart below.

















Chart: Gamuda's daily chart as at Oct 4