Malaysia Building Society Bhd (1171)

• MBSB advanced 6.0% or 5 sen to RM0.89 last Friday.

• Share price has been consolidating over the past 2 months with strong support seen at RM0.82 level. Last Friday’s long white candle with resistance breakout to RM0.89 and key indicator MACD which has recently turned positive could be an indication of potential rebound.

• As such, resistance levels are seen at RM0.92 (R1) and RM0.95 (R2).

• On the flipside, downside support levels are expected at RM0.85 (S1) and RM0.82 (S2).

Source: Rakuten Research - 21 Oct 2019