MBM’s firm rally is likely to resume after it printed an all-time high close yesterday. A position can be initiated above RM3.80, or otherwise above RM4.00. A close below the recent low of RM3.70 can be employed as a stop-loss. The price target is RM4.50, though selling is also anticipated at RM4.10. Failure to break RM4.00 could see it lower and the stock may correct on a close below RM3.70. Supports are at RM3.40 and RM3.25.
Source: OSK
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