Technical Buy - MCLEAN (0167)

PublicInvest

Publish date: Fri, 13 Jan 2023, 10:20 AM

Target Price: RM0.190, RM0.200
Last closing price: RM0.175
Potential return: 8.5%, 14.2%
Support: RM0.170
Stop Loss: RM0.155

Possible for sideways breakout. MCLEAN is potentially staging a breakout from its sideways channel, with anticipation of continuous improvement in both momentum and trend in the near term. Should immediate resistance level of RM0.190 be broken with renewed buying interest, it may continue to lift price higher to subsequent resistance level of RM0.200.

However, failure to hold on to support level of RM0.170 may indicate weakness in the share price and hence, a cut-loss signal.

Source: PublicInvest Research - 13 Jan 2023

MCLEAN (0167)

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Director Appointment - GOH KWEE KENG on 30-May-2023.

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Board Member

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Board Member

Director Resigned - PANG KONG CHEK on 30-May-2023.

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Board Member

Director Cessation of Office - HO CHOON HOU on 30-May-2023.

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Board Member

Director Resigned - MARK WILLIAM LING LEE MENG on 30-May-2023.

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Meeting Outcome

General Meeting on 30-May-2023.

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