MAXIS’s short-term technical picture looks bullish after the share price closed at a fresh high and broke above the short-term congestion zone. Furthermore, the indicators are also showing marked improvements, with the RSI and CCI indicators approaching the bullish zone which signals the possible start to an up-cycle. We look toward a breakout above overhead resistance level @RM7.30 (Fibonacci Projection). Beyond that, we reckon MAXIS could go  up further to RM7.43 and RM7.53 (measurement objective). On the flipside, immediate downside level should be capped at psychological support @RM7.00.

 

Source: Kenanga