Orkim Bhd breached the 21-day simple moving average (SMA) yesterday as it’s recovery gained speed after a week of idling.

Resistance level is at RM1.09, following which the share could break out towards it’s historical trading peak of RM 1.21.

The technical indicators are looking healthy, with the slow stochastic rising to 62 points and the 14-day relative strength index (RSI) increasing to 60 points.

The daily moving average convergence/divergence (MACD) histogram has charted a sharply higher positive bar, indicating the onset of strong momentum.

Support for the share is pegged at RM1 and 92 sen.

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