Yesterday, MUDA gained 9 sen (4.1%) to close at RM2.28.
Overall, the share has seen an up and down seesaw since mid-Feb. Yesterday’s move further follows through its current short uptrend since early-April.
From here, expect technical outlook to be bullishly biased, as backed by the “Golden Cross” among key SMAs, coupled with positive displays from key indicators and the increased trading volumes.
Look out for resistances near its high at RM2.47 (R1) and RM2.78 (R2) further up. Conversely, downside supports can be found at RM2.16 (S1) and RM1.96 (S2).
QL (Not Rated)
QL gained 17.0 sen (3.31%) yesterday to close at RM5.31.
Overall, the share has been on a consistent uptrend for the past several years.
Yesterday’s move broke out of its previous high at RM5.24 to potentially signal a continuation trend, with the share leading key SMAs upwards in the chart. Likewise, momentum indicators also saw minor upticks following yesterday’s move.
From here, should the buying momentum sustain, expect resistances at RM5.60 (R1) and RM5.83 (R2).
Conversely, the aforementioned RM5.24 (S1) would serve as a resistance-turned-support, with a lower support identified at around RM4.89 (S2).
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