MUDA gained 19.0 sen or 8.84% to close at RM2.34. In the past few months, the share price enjoyed an extended rally following a consolidation phase. After the third consolidation phase, a breakout was seen again at RM2.04 with a white ‘Marubozu’ candlestick formed with a spike in trading volume, signaling a potential rally. In addition, the MACD has also trended upwards while staging a positive Signal line crossover. Strong buying pressure is also seen with positive reading from momentum indicators. Should buying momentum persists, its share price will soon retest the RM2.51 (R1), with RM2.73 next.

 

 

Source: Kenanga