MYEG rose 4.0 sen (1.50%) to end the day at RM2.70.
Overall technical picture is positive with the share leading key SMAs upwards and is in a ‘Golden Crossover’ state.
The share is close to re-testing the RM2.72 (R1) resistance level which it had failed to break past it over the past three months.
Should it break past R1, we may see the share head towards its next resistance level at RM2.88 (R2).
Conversely, any downside bias will see support levels at RM2.56 (S1) and RM2.46 (S2).
CARING (Not Rated)
CARING surged 13.0 sen (8.67%) to close at RM1.63.
Yesterday’s move resulted in a decisive breakout from its 3-month downtrend at RM1.50 level, to suggest that the share price has potentially bottomed out.
CARING’s technical picture is turning positive indicated by the formation of a white “Marubozu” candlestick coupled with improving momentum indicators displayed by the MACD crossed over the signal line while other oscillators showing upticks, to signal recovery play could be on the cards.
From here, key resistances to look out for are RM1.70 (R1) and RM1.80 (R2). Conversely, immediate support level can be identified at RM1.50 (S1) while further down is RM1.45 (S2).
New IPO: The onshore and offshore support services provider for the O&G industry, Steel Hawk Bhd aims to list on the Ace Market!
MQ Trader 7316 views | 6 d ago
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New IPO: The largest mini-market player and a leading groceries retailer in Malaysia, 99 Speed Mart Retail Holdings Bhd aims to list on the Main Market!
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....