Rakuten Trade Research Reports

Technical View - Nova MSC (NOVAMSC,0026)

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Publish date: Tue, 30 Oct 2018, 09:34 AM
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NOVA MSC BHD (NOVAMSC,0026) 

  • Nova MSC down 11.11% (1.5 sen) to close at RM0.12 yesterday.
  • Nova MSC turnaround story is finally gaining momentum with record high orderbook as it expects to return to full year profitability by FY19. We believe the stock is currently in oversold position and potentially heading for technical rebound.
  • As such, resistance levels are expected at RM0.180 (R1) and further to RM0.185.
  •  Meanwhile, supports can be found at RM0.1 15 (S1) and RM0.105 (S2). 

Source: Rakuten Research - 30 Oct 2018

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