Overall: The stock is in uptrend with MACD showing potential sign of crossover. If this is confirmed, expect stronger bullish momentum.

Top 30 volume today

MALAKOF is actively traded and is among the top 30 stocks on Bursa Malaysia today. There were 13 million shares traded, and the share price was up slightly. What is the technical outlook for this stock?

News on 28-August-2024 653pm

The Edge Malaysia reported that “Malakoff Corp Bhd reported its second consecutive quarterly net profit despite lower revenue, on the back of higher earnings contributions from two Johor-based power plants amid reduced coal costs, coupled with a compensation received for compulsory land acquisition. Net profit for the three months ended June 30, 2024 (2QFY2024) came in at RM93.6 million, compared to a net loss of RM318.7 million a year ago, according to the independent power producer's bourse filing.”

Details of the news here

1. Trend Analysis

The stock has been in an uptrend since the beginning of the year, with higher highs and higher lows.

Recent price action shows a pullback, but it remains above key moving averages (150-day and 200-day), suggesting the uptrend is still intact.

2.Moving Averages

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MALAKOF: Uptrend Continuation With Potential MACD Crossover? (substack.com)

3. Bollinger Bands

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4. MACD

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5. Volume

Recent volume spikes on up days suggest some accumulation, which could support a further move upwards.

6.Support and Resistance Level

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Could Malakoff be gearing up for a major breakout? Discover the chart patterns that could signal a bullish reversal. Don't miss the full analysis—read more on my Substack blog! The full version in Substack comes with Resistance and Support price for Malakoff

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MALAKOF: Uptrend Continuation With Potential MACD Crossover? (substack.com)