Gamuda’s share price may trade higher after ending its 3-day correction. Gamuda’s price trend turned weak after it broke below its 9-month support level of RM3.46 in August. The price rebounded well after making a short-term bottom just above RM2.60, which was preceded by a positive divergence in the daily RSI. The stock looks set to trade higher again after the correction that started last Friday. The close above the 2-day high of RM3.01 confirmed the return of buying. Note too that the price is back above the psychological RM3.00. Purchase can be made at the current price with a stop on close below the 5-day low of RM2.90.
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