The extension of the Net Energy Metering program until June 2025 is anticipated to drive increased demand for power cables, which is excellent news for Master Tec as it expands into medium-voltage cable manufacturing
Malaysia has been ranked first among regional peers in Southeast Asia in Knight Frank’s SEA-5 Data Centre Opportunity Index for the second consecutive year with an annual take-up of 429 megawatts !
The range between RM1.24 to RM1.26 serves as a good entry opportunity. The first resistance level can be set at RM1.37. A successful breach above this resistance could pave the way for the stock to challenge the subsequent resistance at RM1.40. Conversely, if the stock consolidated towards and below RM1.18, this could signal the commencement of the consolidation phase.
Master Tec, Potential Breakout Ahead ? After touching its 52-week high in early-May, MTEC experienced a mild correction before a recovery took place. This recovery moved in tandem with the growing trading interest, leading the stock to trend upward. During this period, a bullish uptrend wedge pattern was formed, indicating the stock was trending upward in a higher highs and higher lows pattern. At the last closing price of RM1.26 on Christmas eve, the stock was just on the verge of breaking through the pattern.
MTEC manufactures and supplies various types of cables (https://mastertec.my/products-technology/) to cater to a wide range of customers in the Asia Pacific region (Thailand, Cambodia, Myanmar, Brunei and Singapore)
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....
Abram66
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Posted by Abram66 > 1 month ago | Report Abuse
The demand for power cables will show a strong growth trend in the future. Worth to chip in more for dividend and capital appreciation as well