Matrix Concepts Holdings (MCH MK) Technical BUY with +12.0% potential return Last price : RM4.25 Target Price : RM4.60, RM4.78 Support : RM4.04 Stop-loss: RM4.00 BUY with a target price of RM4.78 with stop loss placed at below RM4.00. MCH had consolidated in the tight range of RM4.00- RM4.12 in the past 5 weeks before last Thursday’s breakout above the “cloud” on a higher trading volume created a new up-leg, thus effectively ending the consolidation. Given the positive follow-though, albeit a bearish candlestick was registered last Friday, we expect further upward movement as the share price looks set to resume its previous uptrend. Improving momentum as shown by positive readings in MACD and Stochastic could drive the share price higher as we peg our short- to medium-term target at RM4.78, which is equivalent to the 1.61x Fibonacci extension level.
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
MyInvest
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Posted by MyInvest > 2014-06-20 09:25 | Report Abuse
cheers Harry.... end of 3rd quarter or end of the year it might reach RM 5.00 ...