PublicInvest Research
Technical Buy - MFLOUR (3662)
PublicInvest
Publish date: Tue, 05 Mar 2019, 10:07 AM
PublicInvest
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An official blog in I3investor to publish research reports provided by PublicInvest Research team.
All materials published here are prepared by Public Investment Bank Berhad. For latest offers on Public Invest trading products and news, please refer to: https://www.publicinvestbank.com.my/pbswecos/default.asp
PUBLIC INVESTMENT BANK BERHAD (20027-W)
9th Floor, Bangunan Public Bank
6, Jalan Sultan Sulaiman, 50000 Kuala Lumpur
T 603 2031 3011 | F 603 2272 3704 | Dealing Line 603 2260 6718
All materials published here are prepared by Public Investment Bank Berhad. For latest offers on Public Invest trading products and news, please refer to: https://www.publicinvestbank.com.my/pbswecos/default.asp
PUBLIC INVESTMENT BANK BERHAD (20027-W)
9th Floor, Bangunan Public Bank
6, Jalan Sultan Sulaiman, 50000 Kuala Lumpur
T 603 2031 3011 | F 603 2272 3704 | Dealing Line 603 2260 6718
- Target Price RM0.690, RM0.750
- Last closing price RM0.645
- Potential return 6.9%, 16.2%
- Support RM0.615
- Stop Loss RM0.605
Possible for further upside. MFLOUR is picking up its prior uptrend with increasing trading volume. RSI and MACD indicators currently signal reasonable entry level, with anticipation of continuous improvement in both momentum and trend in near term. Should resistance level of RM0.690 be broken, it may continue to lift price higher to subsequent resistance level of RM0.750.
However, failure to hold on to support level of RM0.615 may indicate weakness in the share price and hence, a cut-loss signal.
Source: PublicInvest Research - 5 Mar 2019
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