Rakuten Trade Research Reports

Technical View - Malayan Bulk Carriers Bhd

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Publish date: Fri, 10 Sep 2021, 12:39 PM
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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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