RHB Retail Research
Trading Stocks - Magni-Tech Industries
Magni-Tech Industries may climb higher after posting another white candle and hitting its new 52-week high. As the 21-day SMA line is likely to turn higher, the bullish sentiment has been enhanced. A positive bias may emerge above the MYR5.20 level, with an exit set below the MYR4.90 threshold. Towards the upside, the immediate resistance is at the MYR5.50 level. This is followed by the MYR5.80 level.
Source: RHB Securities Research - 15 Jul 2019
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