MASTER gained 21.0 sen (+8.08%) to close at RM2.81 yesterday, backed by above-average trading volume.
Chart-wise, the stock has been on an uptrend since February last year.
Yesterday, the stock closed higher with the formation of a “Marubozu” candlestick, indicating strong buying interest. Given that all key-SMAs appear to be healthy, we expect the stock to trend higher.
From here on, overhead resistance can be seen at RM2.90 (R1) and RM3.10 (R2).
Conversely, downside supports can be identified at RM2.60 (S1) and RM2.30 (S2).
NAIM (Not Rated)
NAIM gained 16.0 sen (+14.04%) to close at RM1.30 yesterday.
Chart-wise, the stock has been gradually rising since end of May last year.
Yesterday’s “Marubozu” candlestick closed higher above its key resistance level at RM1.17. Despite the stock’s RSI trading near overbought levels, we believe the encouraging volume shall bring the stock to trend higher.
Should buying momentum persist, overhead resistance are at RM1.45 (R1) and RM1.60 (R2).
Conversely, support levels can be identified at RM1.12 (S1) and RM0.965 (S2).
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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....