• MASTEEL closed 6.0% or 2.5 sen higher to RM0.44 on Tuesday.
• The stock has been actively traded recently supported by higher-than-average trading volume, signalling strong buying momentum. With share price trading above key moving averages, we expect share price to rise higher and potentially to RM0.50 level.
• As such, resistance levels are expected at RM0.470 (R1) and further to RM0.500 (R2).
• Conversely, downside support levels can be identified at RM0.40 (S1) and RM0.345 (S2)
Source: Rakuten Research - 2 Jan 2020
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Created by rakutentrade | Jul 18, 2024