Sector: Technology

Analysed on 05/12/21

Follow up on our previous analysis on MMSV, the share price failed to break the descending trendline and subsequently experienced some major sell off as a result of weak market sentiment recently. MMSV is currently trading at RM1.010, with immediate support at RM0.990 and immediate resistance at RM1.050.

The candlestick is trading way below the EMA25 and EMA50, indicating that the momentum is weak. Note that dead cross has just happened, which could be a sign of downtrend. Investors are advised to be patience given that the recent market is extremely volatile. Investors can consider to open position when there’s sign of reversal, or when the golden cross reoccur for better confirmation.

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NOTT INVEST 

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