Malaysia Building Society Bhd (MBSB, 1171)

• Share price closed 3.6% higher at RM0.58 on Tuesday.

• MBSB is considered one of the laggards within the financial sector. It has formed a three-whitesoldier candlestick with higher volume recently. Yesterday, its share price has also successfully closed above its MA50.

• Backed by upticks in its indicators, MBSB is poised to move higher.

• Resistance levels are identified at RM0.590 (R1) and RM0.610 (R2).

• On the flipside, support levels are pegged at RM0.560 (S1) and RM0.545 (S2).

Source: Rakuten Research - 12 Jan 2022