Overall Technical Outlook: 

Share price is now above key moving averages (150-day and 200-day), which is positive, but the MACD indicator suggests a potential short-term weakness. The RSI is neutral, so no clear overbought or oversold condition is present. The Bollinger Bands suggest low volatility, which could mean a consolidation phase or preparation for a breakout.

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Moving Averages:

The 150-day and 200-day moving averages are 0.76 and 0.70 respectively, indicating the stock is in a medium to long-term uptrend. The price being above these moving averages is generally a bullish sign. More bullish sign will emerge if price break 0.94 (MA50 and MA20 level).

Bollinger Bands:

The stock price is within the Bollinger Bands, indicating that the price is not currently overbought or oversold. The narrowing of the bands suggests that the stock might be experiencing reduced volatility, often a precursor to a potential breakout.

RSI (Relative Strength Index):

The RSI is at 45, which is in the neutral zone. This suggests there’s no immediate overbought or oversold condition, giving the stock room to move in either direction.

MACD (Moving Average Convergence Divergence):

The MACD appears to be below the signal line and is slightly negative, which can be interpreted as a bearish signal. This might indicate short-term downward momentum.

Volume:

A significant change in volume would be needed to confirm any major price movements. Currently, there is lack of evidence of this.

LATEST FUNDAMENTAL NEWS - 30th August 2024

1. MN Holdings 4th Quarter 2024 revenue jumped 49% Y/Y to RM73.4 million. Net profit increased 132% to RM4.96 million. This is due to better performance from substation engineering segment.

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2. According to its filing with Bursa, the latest order book is RM611.2 million. This provides 2 to 3 years earnings visibility.​

3. The stock is not the Magnificent 7 list. However, the theme for this stock are National Energy Transition Roadmap (NETR), Fifth Large Scale Solar (LSS3) and Data Center. 

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Details:

​Announcement of earnings