MSM Malaysia Holdings Bhd (MSM, 5202)

• Share price closed 13.7% higher at RM0.915 on Thursday.

• MSM has broken out from its consolidation phase with high volume yesterday and formed White Marubozu candlestick yesterday. It started to trade above both its MA20 and MA50 since yesterday.

• Coupled with upticks in its indicators & MACD bullish crossover, share price is expected to continue with its upside momentum.

• Resistance levels are identified at RM0.960 (R1) and RM1.02 (R2).

• On the flipside, support levels are pegged at RM0.840 (S1) and RM0.785 (S2).

Source: Rakuten Research - 10 Jun 2022