RHB Retail Research
Technical Analysis - Magni-Tech Industries
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Magni-Tech Industries may rise higher after it formed a second consecutive white candle. As the 21-day SMA line crossed above the 55-day SMA line recently, this has enhanced the buying momentum. A bullish bias may emerge above the MYR5.20 level, with an exit set below the MYR5.00 threshold. Towards the upside, the immediate resistance is at MYR5.80. This is followed by the MYR6.50 level.
Source: RHB Securities Research - 14 Jun 2018
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