Journey to Wealth

Daily Trading Stocks: MBM Resources Bhd

kiasutrader
Publish date: Tue, 17 Jul 2012, 09:12 AM
MBM's firm rally is likely to resume after it printed an all-time high close  yesterday.  A  position  can  be  initiated  above  RM3.80,  or otherwise  above  RM4.00.  A  close  below  the  recent  low  of  RM3.70 can be employed as a stop-loss. The price target is RM4.50, though selling is also anticipated at RM4.10. Failure to break RM4.00 could see  it  lower  and  the  stock  may  correct  on  a  close  below  RM3.70. Supports are at RM3.40 and RM3.25.


Source: OSK
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