MRCB gained 1.0 sen (+1.41%) yesterday to close at RM0.720.
We believe that there is more upside room for MRCB given the continued positive signals from key momentum indicators, coupled with yesterday’s higher close after an indecisive "doji" last week which could indicate a shift in sentiment.
We expect MRCB to test the resistance level of RM0.770 (R1). Should it break and close above this level, we look towards RM0.890 (R2) as the next resistance.
Conversely, supports can be identified at RM0.695 (S1) and RM0.570 (S2).
SCOMNET (Not Rated)
SCOMNET gained 2.0 sen (+4.5%) to close at RM0.465, marking its breakout from RM0.455 level of previous high.
Trend line is bullish with technical indicators seemingly favouring the upside as indicated by upwards movement in technical indicators (MACD, RSI and Stochastic) as well as “Golden Crossover” between key SMAs.
Expect follow-through buying towards RM0.520 (R1) with a decisive breakout seeing higher resistance towards RM0.565 (R2).
Conversely, if buying momentum failed to sustain, expect an immediate support at RM0.400 (S1) and RM0.390 (S2)
Be the first to like this. Showing 0 of 0 comments
Post a Comment
People who like this
Featured Posts
MQ Trader
Introducing MY's First IPO Fund for Sophisticated Investors!
MQ Chat
New Update. Discover investment communities that resonate with your ideas
MQ Trader
M & A Value Partners IPO Equity Fund has been launched - Targeted 13% Return p.a
Latest Videos
0:17
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 7303 views | 6 d ago
0:17
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....