PublicInvest Research

Author: PublicInvest   |   Latest post: Thu, 21 Nov 2019, 11:24 AM


Technical Buy - MESB (7234)

Author:   |    Publish date:

  • Target Price: RM0.450, RM0.500
  • Last closing price: RM0.420
  • Potential return: 7.1%, 19.0%
  • Support: RM0.400
  • Stop Loss: RM0.380

Possible for further upside. MESB is showing initial signs of picking up its prior uptrend after undergoing congestion 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 RM0.450 be broken, it may continue to lift price higher to subsequent resistance level of RM0.500.

However, failure to hold on to support level of RM0.400 may indicate weakness in the share price and hence, a cut-loss signal.

Source: PublicInvest Research - 14 Oct 2019

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Labels: MESB

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Chart Stock Name Last Change Volume 
MESB 0.485 +0.015 (3.19%) 46,400 

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