MPCORP's share price advanced 4 sen to end at 50.5 sen yesterday. As a result of the bullish move, the share price had confirmed a "Bullish Flag" chart pattern, which represents a resumption of its prior uptrend. More importantly, the chart pattern suggests that the share price could potentially rally towards 63 sen next. We reckon that at this point, the technical picture strongly favour the bulls with a 2.3x reward/ risk ratio. Traders who are keen to take up a buy position should target 61.5 sen (3 bids below measurement objective) while a stop loss should be placed at 0.435. 

 

Source: Kenanga