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PublicInvest Research

Author: PublicInvest   |   Latest post: Thu, 2 Jul 2020, 10:24 AM

 

Technical Buy: MNRB (6459)

Author:   |    Publish date:


  • Target Price: RM0.765, RM0.815
  • Last closing price: RM0.715
  • Potential return: 6.9%, 13.9%
  • Support: RM0.675
  • Stop Loss: RM0.640

Possible for further upside. MNRB is staging a potential breakout from its sideways channel. Corresponding RSI and MACD indicators remain healthy while trending sideways, with anticipation of continuous improvement in both momentum and trend in the near term. Should resistance level of RM0.765 be broken with renewed buying interest, it may continue to lift price higher to subsequent resistance level of RM0.815.

However, failure to hold on to support level of RM0.675 may indicate weakness in the share price and hence, a cut-loss signal.

Source: PublicInvest Research - 22 May 2020

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Labels: MNRB

Related Stocks

Chart Stock Name Last Change Volume 
MNRB 0.755 +0.025 (3.42%) 1,212,600 

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