MUDA ended 19.0 sen higher (7.22%) on Monday to close at RM2.82.
The share had been riding on an uptrend since the start of April 2018, breaking through the RM2.60 resistance level and managed to reach a new high of RM2.86 before tapering off slightly in tandem with the weak market sentiment.
Nonetheless, Monday’s long white candlestick could signal a resurgence buying interest, possibly indicating the continuation of the uptrend.
Expect the share to retest its previous high of RM2.86 (R1) where a break above it may see it head closer to RM3.15 (R2).
Investors who are looking to buy on dips could consider to start nibbling near support at RM2.60 (S1). However, a break below RM2.25 (S2) will be highly negative.
AEONCR (Not Rated)
AEONCR jumped 56 sen higher (3.9%) on Monday, closing at a high of RM15.10.
Technically, the share is currently in a midst of an uptrend after hitting two bottoms in April and May. The share is now leading key SMAs upwards in the chart, coupled with positive displays from momentum indicators such as the MACD.
From here, look towards resistances at RM15.65 (R1) and RM16.29 (R2).
Conversely, downside supports can be found at RM13.84 (S1) and RM12.10 (S2).
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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....