Chart-wise, the stock’s trend has turned to a bullish stance since early-December.
Yesterday candlestick continued respecting the 20-Day SMA, while backed by above-average trading volume. Coupled with an uptick in key technical indicator, we expect the bullish momentum to persist.
Should the share head north, overhead resistance can be found at RM1.35 (R1) and RM1.61 (R2).
Conversely, key support levels are seen at RM1.09 (S1) and RM0.950 (S2)
TAKAFUL (Not Rated)
TAKAFUL remained unchanged to close at RM5.70 yesterday.
The stock has been on a downtrend since early-June this year after achieving a record high.
Yesterday candlestick continued to close lower below all key-SMA. Nevertheless, we believe the stock could rebound, given an uptick of RSI from its oversold region while selling momentum continues to ease.
Should buying interest resume resistance can be seen at RM6.50 (R1) and RM6.70 (R2).
Conversely, key support levels are seen at RM5.30 (S1) and RM4.80 (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 5905 views | 5 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....