Nott Invest

MAYBULK - Sailing to the North?

Nott_Invest
Publish date: Mon, 05 Jul 2021, 10:49 AM
Nott Invest Analyses

 

Sector: Transportation and Logistic

MAYBULK is currently trading at RM0.765, with immediate support at RM0.715 and immediate resistance at RM0.795. Benefiting from the recent strong rally of Dry Baltic Index, which is the index of average prices paid for the transport of dry bulk materials, MAYBULK is trending upwards with the formation of higher lows and higher highs patterns. Both EMA25 and EMA50 are trending upwards, and this further confirms that MAYBULK is on an uptrend rally.

As MAYBULK share price is dependent on the Dry Baltic Index, investor should always pay attention to development of Dry Baltic Index when trading in this counter.

Reason to Monitor: Strong Rally of Dry Baltic Index 

 

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