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