MULTICO’s share price inched up 5 sen (3.03%) yesterday to RM1.70 with a spike in trading volume. The share price has been inching up since last week on positive QoQ results. Chart-wise, the short term SMAs are starting to trend upwards. The MACD has also just crossed over the signal line, suggesting that buying momentum is picking up, while RSI and Stochastics are hooking upwards. MULTICO’s share price has broken out of its 1-year resistance, and we expect a push towards RM1.80 (R1) should the stock maintain the current bullish buying momentum.

 

 

Source: Kenanga