Malakoff Corporation Bhd (MALAKOF, 5264)
- Share price closed 2.52% higher at RM0.61 on last Monday.
- Malakoff experienced a gap down in late August 2023 following the announcement of its 2QFY23financial results. The stock is currently forming a bullish MACD crossover with high buying volume observed yesterday, and both its 20-day and 50-day EMAs are converging. These indicators suggest a positive outlook in the near term.
- It is pending a breakout from its current level, with rising momentum to test the next level ofresistance of RM0.62 (R1) followed by RM0.625 (R2).
- On the downside, stop-loss is set at RM0.575, below the 29 Aug’s low.
Source: Rakuten Research - 24 Oct 2023
To sign up for an account: http://bit.ly/40BNqKI
[Youtube Tutorial] Account Opening & Enable Foreign Equity: http://bit.ly/3I5Jzxo