MI gained 32.0sen (+13.79%) to close at RM2.64 yesterday.
Chart-wise, the stock has recovered from the previous day’s panic sell and formed a bullish engulfing candlestick pattern.
Besides, as the stock continued to trade above all the key SMAs, backed by higher-than-average trading volume, we believe that the stock could move higher.
From here on, key resistance levels are seen at RM2.80 (R1) and RM3.10 (R2).
Conversely, key support levels can be seen at RM2.20 (S1) and RM2.00 (S2).
ANCOM (Not Rated)
ANCOM dropped 1.5sen (-2.56%) to end at RM0.570 yesterday.
Chart-wise, the stock has broken below all the key SMAs yesterday, accompanied by higher-than-average trading volume.
Coupled with bearish crossover from MACD indicator, we believe the stock price could move lower.
From here on, downside supports can be identified at RM0.530 (S1) and RM0.490 (S2).
Conversely, key resistance levels can be found at RM0.600 (R1) and RM0.640 (R2).
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 5887 views | 5 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....