MBSM’s six-month sideways consolidation should end after the stock closed again above the RM2.40 resistance level. A position can be initiated above this level, with a close below the recent RM2.25 low as a stop-loss. The price target is RM3.00, with resistance also anticipated at RM2.80. A trade may not work if the stop-loss is triggered, whereupon the sideways move is likely to continue. Strong support is at RM2.00.
Source: OSK
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