Rakuten Trade Research Reports

Technical View - Malaysian Bulk Carriers Bhd

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Publish date: Thu, 22 Apr 2021, 11:28 AM
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Malaysian Bulk Carriers Bhd (MAYBULK, 5077)

• MAYBULK jumped 11.6% or 7.5 sen to RM0.72 yesterday.

• MAYBULK formed a strong closing yesterday as it ended at intra-day high, coupled with positive resistance breakout. This implies strong buying force hence the encouraging momentum should drive share price to higher levels.

• Resistance levels are projected at RM0.785 (R1) and RM0.835 (R2).

• For the downside, first resistance-turned-support level is identified at RM0.675 (R1) and next at RM0.640 (S2).

Source: Rakuten Research - 22 Apr 2021

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