• Target Price: RM0.265, RM0.280
• Last closing price: RM0.250
• Potential return: 6.0%, 12.0%
• Support: RM0.240
• Stop Loss: RM0.230

Possible for sideways channel breakout. MPAY is potentially staging a breakout from its sideways channel. Corresponding RSI and MACD indicators remain healthy while trending sideways, with anticipation of continuous improvement in both momentum and trend in the near term. Should immediate resistance level of RM0.265 be broken with renewed buying interest, it may continue to lift price higher to subsequent resistance level of RM0.280.

However, failure to hold on to support level of RM0.240 may indicate weakness in the share price and hence, a cut-loss signal.

Source: PublicInvest Research - 18 Aug 2021