Malayan Flour Mills Bhd
- Share price closed 5.74% higher at RM0.645 on Thursday.
- MFLOUR has rebounded from its support of RM0.60 and broke its resistance level of RM0.64 yesterday. Despite the selling pressure over the past 3 months, a bullish MACD has crossover and indicators are showing uptick momentum hence share price is expected to move higher.
- Resistance levels are identified at RM0.65 (R1) and RM0.685 (R2).
- On the flipside, support levels are pegged at RM0.60 (S1) and RM0.575 (S2).
Source: Rakuten Research - 7 Jul 2023
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