PublicInvest Research

Author: PublicInvest   |   Latest post: Thu, 27 Feb 2020, 9:56 AM


Technical Buy - MFCB-WA (3069WA)

Author:   |    Publish date:

  • Target Price: RM2.12, RM2.30
  • Last closing price: RM1.94
  • Potential return: 9.2%, 18.5%
  • Support: RM1.83
  • Stop Loss: RM1.75

Possible for uptrend continuation. MFCB-WA is picking up from its prior uptrend. Improving RSI and MACD indicators currently signal reasonable entry level, with anticipation of continuous improvement in both momentum and trend in near term. Should resistance level of RM2.12 be broken, it may continue to lift price higher to subsequent resistance level of RM2.30. Note that the maturity date of MFCB-WA is on 8 April 2020.

However, failure to hold on to support level of RM1.83 may indicate weakness in the share price and hence, a cut-loss signal.

Source: PublicInvest Research - 3 Oct 2019

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Labels: MFCB

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