Sector: Logistic and Transportation

Analysed on 09/10/21

MAYBULK was traded actively on Friday after the Baltic Dry Index reaches its 13-year high recently. MAYBULK has finally broke the descending trendline and the resistance at RM0.765 after multiple unsuccessful attempts previously. Should MAYBULK continue to sustain above RM0.765, it will challenge the next resistance at RM0.795.

Note that 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 as the on-going global port congestion issue does not seem to be resolved anytime soon, we are in opinion that MAYBULK’s business will continue to gain benefit from the current situation. Investor who is interested in MAYBULK can take the support level as reference for entry point.

Reason to Monitor: Potential Upward Trend.

--------------------------------------------------------

Follow our FB and telegram channel for more investing and trading analysis. Share it out to your friends and family!

TELEGRAM ：https://t.me/nottinvest

FB PAGE ：https://fb.com/NottInvest
--------------------------------------------------------

Cheers
NOTT INVEST 

Disclaimer: 

This content by NOTT INVEST, is in no way a solicitation or offer to buy or sell securities or investment advisory services. 

Readers should always seek the advice of an appropriately qualified professional and perform due diligence before making any investment decisions. 

We shall not be liable for any errors or inaccuracies, regardless of cause.