PublicInvest Research

Author: PublicInvest   |   Latest post: Fri, 24 May 2019, 11:10 AM


Technical Buy: MGRC (0155)

Author:   |    Publish date:

  • Target Price: RM0.400, RM0.450
  • Last closing price: RM0.360
  • Potential return: 11.1%, 25.0%
  • Support: RM0.300
  • Stop Loss: RM0.280

Possible for bullish reversal. MGRC is bottoming out of its consolidation phase. 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 RM0.400 be broken, it may continue to lift price higher to subsequent resistance level of RM0.450.

However, failure to hold on to support level of RM0.300 may indicate weakness in the share price and hence, a cut-loss signal.

Source: PublicInvest Research - 23 Apr 2019

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Labels: MGRC

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MGRC 0.285 0.00 (0.00%)

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