MUHIBAH’s share price rose 3.0sen (1.94%) to RM1.58 yesterday on higher trading volume. A white candlestick was formed right after the ‘Spinning Top’ candlestick, determining a potential uptrend direction post the recent sell-down on the stock. Both Stochastic and RSI indicator are also hooking upwards from their respective oversold region, supporting the potential uptrend movement by implying that buying interest is pilling up. MUHIBAH is trading near its immediate support at RM1.44 (S1), and should follow through buying interest remain persistent, we advocate investors to relook into this stock at the current level as the share price looks to retest its next resistance level of RM1.84 (R1).

Source: Kenanga