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Rakuten Trade Research Reports

Author: rakutentrade   |   Latest post: Fri, 28 Feb 2020, 12:52 PM

 

Technical View - MTAG Group Bhd (MTAG, 0213)

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MTAG Group Bhd (0213)

• MTAG rose 4.5 sen or 8.8% to RM0.555 yesterday.

• Share price formed a positive white candle on the back of higher-than-average trading volume yesterday indicating renewed buying interest breaking out of its consolidation phase since the fall from their intra-day high of RM0.70.

• With MACD displaying bullish signal and upward movement of RSI, share price is likely to continue to trend higher and possibly heading to RM0.60 level.

• As such, resistance levels are expected at RM0.58 (R1) and RM0.63 (R2).

• Should it break RM0.49 (S1) as its first support level, next support level is seen at RM0.44 (S2).

Source: Rakuten Research - 6 Nov 2019

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Labels: MTAG

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Chart Stock Name Last Change Volume 
MTAG 0.45 -0.035 (7.22%) 10,664,700 

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