MI Technovation on track towards 5-month high, says RHB Retail Research

TheEdge Fri, Nov 25, 2022 07:15am - 4 months View Original

KUALA LUMPUR (Nov 25): RHB Retail Research said MI Technovation Bhd is on track to propel towards its 5-month high after a strong bullish momentum emerged yesterday as it breached the RM1.34 immediate resistance level – printing a “White Marubozu” bullish candlestick.

In a trading stocks note today, the research house said that as the stock forms a fresh “higher high” bullish pattern, the bulls are expect to persist above that level to propel the stock towards the RM1.48 resistance, or Aug 11’s high, before reclaiming its 5-month high of RM1.62 – July 29’s high.

“Conversely, the stock may reverse direction if it falls below the RM1.23 support, forming a “lower low” bearish structure beneath the average line,” it said.

The content is a snapshot from Publisher. Refer to the original content for accurate info. Contact us for any changes.

Related Stocks

MI 1.900


Login to comment.