MMS' share price was up 7.5 sen yesterday (15.79%) to settle at RM0.55 with a spike in trading volume. Chart-wise, the share price has broken out from its multimonth resistance level. Key indicators like RSI and Stochastics are both pointing upwards, suggesting buying momentum is picking up. Meanwhile, the MACD has staged a strong crossover from the Signal line, supporting the underlying bullish bias. Should buying interest persist, we expect the share price to retest its next resistance level of RM0.59 (R1) and possibly RM0.63 (R2) further.

 

 

Source: Kenanga