MMODE’s share price moved up 4.5sen (9.9%) yesterday with a spike in trading volume after SC approved it’s transfer to the Main Market (from Ace Market) on Friday, 9th Jan 2015. Chart-wise, MMODE opened the day’s trading significantly higher jumping 6.0sen compared to previous day’s closing price, and the stock has broken-out of its 6-months resistance level at RM0.50. Key Indicators are also bullish as the MACD has just crossed over the Signal Line, while RSI and Stochastics are both hooking upwards, charting into Overbought territory. Should trading volume remain high, and key indicators continue to ride on the bullish momentum, we expect share price to push towards RM0.56 (R1) and consecutively RM0.61 (R2).

 

 

Source: Kenanga