Yesterday, MMSC’s share price surged 3.5 sen (+8.86%) to close at RM0.43 with strong trading volume. On the technical picture, MMSC has broken out from its previous high resistance level of RM0.42 (R1). MACD indicator is also on the verge of staging a crossover of its Signal line, indicating a bullish outlook. On top of that, key indicators like Stochastic and RSI are also hooking upwards, lending a hand to buying momentum. With these bullish indicators, we believe that the share price could rally on continued buying interest towards its next resistance level of RM0.47 (R1) and possibly RM0.51 (R2) further.

 

 

Source: Kenanga