Kenanga Research & Investment

Highlights / Stock Picks of the Day - MISC Bhd – Not Rated

kiasutrader
Publish date: Fri, 12 Dec 2014, 08:54 AM
MISC gained 2.99% (21.0 sen) yesterday to close at RM7.23. Its share price has corrected sharply since mid-Nov until a strong rebound in share price was seen yesterday with a breakout from its 50-day SMA. Trend looks more positive now with MACD hooking upwards, looking set to cross over its Signal line positively. Meanwhile, buying interest regained momentum with Stochastic and RSI indicators rebounding upwards. Investors are advocated to look out for breakout from its 20-day SMA to confirm a bullish trend and sustained buying momentum could bring its share price to breach the RM7.47 (R1) level in the near-term with RM7.75 (R2) possibly next.
 
 
Source: Kenanga
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