• Business profile. Malaysian Resources Corporation Berhad, through its subsidiaries, is engaged in provision of construction and engineering services, multimedia, property development and management, information technology services, and independent power producer. The Group also manufactures and sells ceramic tiles and pre-stressed spun concrete piles.
• On technical front, share price is expected to reverse its recent drop as “Bullis h Harami Cross ” and “Bullis h Harami” formations on daily and weekly charts respectively suggest stronger buying momentum. Coupled with bullish RSI, MACD and Slow Stochastics as well as improved volume, a decisive break above RM1.28 could see next resistances at RM1.34 and RM1.41, with a long-term objective of RM1.48 (200-d SMA).
• However, failure to maintain above RM1.19 on any pullback will turn overall picture into negative sentiment. Supports are pegged at RM1.25 and RM1.22.

Source: Hong Leong Investment Bank Research - 10 Apr 2015