MN Holdings Bhd (MNHLDG, 0245)

• Share price has surged 70% since our last technical buy call on 7th Feb 2024.

• MNHLDG is back in the radar after it staged a rebound to beyond the key RM1.02 resistance lastFriday. The improved trading volume also sent share price to a new 52 week high to close above the 20-day EMA. Given the supportive technical readings in RSI and EMAs, the uptrend may continue in the near term.

• We expect the rising momentum to steer the stock higher and test the next resistance of RM1.13 (R1)and RM1.20 (R2) in the near term.

• On the downside, stop-loss is set at RM0.92, below the 20-day EMAs.
  

Source: Rakuten Research - 12 Aug 2024

To sign up for an account: http://bit.ly/40BNqKI

[Youtube Tutorial] Account Opening & Enable Foreign Equity: http://bit.ly/3I5Jzxo