Eye On Stock, Malaysia Buiding Society

TheStar Sat, May 19, 2018 11:16am - 5 years View Original


MALAYSIA Building Society Bhd (code: 1171) spiked on the first day of the past trading week, which saw it hit a resistance of RM1.24 before gravitating to a lower close of RM1.19.

The surge in share price saw the counter break free of the negative pressure it was under and open up new grazing grounds for the bulls to roam.

Over the next four trading sessions, the counter would undergo a period of sideways consolidation as investors awaited new leads. However, there looks to be more upsides for the share price over the immediate term with new support levels building up to the lower end of the chart.

The recent developments on the daily price chart has also led to a bullish flag formation, suggesting more positive price action in the days ahead.

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Comments

Alvin Chiam
1 Like · Reply
yes 1.20 can buy

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