MPI

Sector: Technology

Starting the year of 2021 at share price of RM25, MPI has advanced tremendously to close at RM41 as of last Friday. This is driven by its stellar improvement in YoY and QoQ performance. MPI charted its third consecutive record breaking streak as 3QFY21 Net Profit tripled YoY to RM74.4m.

As mentioned, MPI is trading at RM41, immediate support at EMA25/50 while resistance at RM41.50 region.

Despite the political uncertainty, record high Covid-19 daily cases in Malaysia, MPI continue its uptrend in the month of June. It is set to test its resistance the third time! If MPI successfully breakout and confirmed, it will be trading at an uncharted region. If you intend to invest in this strong growth semiconductor company, do wait for it to retrace to support level to minimize your risk.

Reason to Monitor: To challenge its resistance level

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NOTT INVEST 

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