Sector: Logistic and Transportation

Analysed on 04/09/21

Follow up on our previous analysis, MAYBULK has successfully broke the resistance at RM0.715 and subsequently performed a minor breakout on the descending trendline as shown in the chart. MAYBULK is currently trading at RM0.740, with immediate resistance at RM0.765 and immediate support at RM0.715. Should MAYBULK sustain the minor breakout from the descending trendline, it will challenge RM0.765 in the near future.

Note that the volatility of MAYBULK has been decreasing with the lower magnitude of retracement whenever the price hit a resistance (Volatility Contraction Pattern). Furthermore, both EMA25 and EMA50 have begun to trend upward, indicating potential of an upward trend. With Baltic Dry Index still remaining at the high side, MAYBULK is definitely a counter worth monitoring. Investor who is interested in MAYBULK can take the support level as reference for entry point.

Reason to Monitor: Potential Upward Trend.

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