Yesterday, MAXIS gained 26.0sen (+3.93%) to close at RM6.88. After seeing a sharp drop in share price since Nov, its share price has rebounded strongly with a long white candlestick taking shape yesterday. Bullish biasness is observed with share price approaching its 20-day SMA. Meanwhile, MACD has hooked upwards looking poised to stage a positive crossover the Signal line. Buying momentum is also gaining steam as its Stochastic and RSI indicators have rebounded strongly from oversold territory. Follow through buying interest could bring its share price to retest the RM6.92 (R1) fairly soon and possibly RM7.36 (R2) next.
Source: Kenanga