Possible for sideways breakout. MMSV is staging a potential breakout from its sideways channel. Improving 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 RM0.935 be broken, it may continue to lift price higher to subsequent resistance level of RM1.00.
However, failure to hold on to support level of RM0.850 may indicate weakness in the share price and hence, a cut-loss signal.
Source: PublicInvest Research - 15 Jun 2021
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