Journey to Wealth

Daily Trading Stocks: Malaysia Building Society Bhd

kiasutrader
Publish date: Thu, 05 Jul 2012, 09:30 AM
MBSM's six-month  sideways  consolidation  should  end  after  the stock  closed  again  above  the  RM2.40  resistance  level.  A  position can  be  initiated  above  this  level,  with  a  close  below  the  recent RM2.25  low  as  a  stop-loss.  The  price  target  is  RM3.00,  with resistance  also  anticipated  at  RM2.80.  A  trade  may  not  work  if  the stop-loss  is  triggered,  whereupon  the  sideways  move  is  likely  to continue. Strong support is at RM2.00.


Source: OSK
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