Malayan Bulk Carriers Bhd (MAYBULK, 5077)
• MAYBULK closed 3.4% higher at RM0.75 on Thursday.
• A rising three methods pattern has been formed since 3 September, indicating continuation of uptrend. MAYBULK has also managed to stay above the crossover of MA50 and MA20.
• Buying momentum is set to resume along with higher trading volume accompanied by upticks in indicators, hence MAYBULK is poised to move higher.
• Resistance levels are identified at RM0.790 (R1) and RM0.855 (R2).
• On the flipside, support levels are pegged at RM0.735 (S1) and RM0.715 (S2).
Source: Rakuten Research - 10 Sept 2021
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Created by rakutentrade | Aug 23, 2024