• MTAG rose 4.5 sen or 8.8% to RM0.555 yesterday.
• Share price formed a positive white candle on the back of higher-than-average trading volume yesterday indicating renewed buying interest breaking out of its consolidation phase since the fall from their intra-day high of RM0.70.
• With MACD displaying bullish signal and upward movement of RSI, share price is likely to continue to trend higher and possibly heading to RM0.60 level.
• As such, resistance levels are expected at RM0.58 (R1) and RM0.63 (R2).
• Should it break RM0.49 (S1) as its first support level, next support level is seen at RM0.44 (S2).
Source: Rakuten Research - 6 Nov 2019
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Created by rakutentrade | Jul 18, 2024