Rakuten Trade Research Reports

Technical View - Malayan Cement Bhd

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Publish date: Fri, 29 Apr 2022, 10:00 AM
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Malayan Cement Bhd (MCEMENT, 3794)

• Share price closed 1.1% higher at RM2.77 on Thursday.

• MCEMENT has just formed a morning star at its MA20 which acts as its support. Price is trading near the MA20 and presents a bargain hunting opportunity.

• Coupled with its uptick in RSI, its share price is expected to move higher.

• Resistance levels are identified at RM2.88 (R1) and RM2.95 (R2).

• On the flipside, support levels are pegged at RM2.77 (S1) and RM2.63 (S2).

Source: Rakuten Research - 29 Apr 2022

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