Highlights / Stock Picks of the Day - MBF Holdings Bhd ("MBFHLDG")

MBF Holdings rose 5 sen higher to RM1.20 at the end of the trading session. The share price has been moving within a trend channel for the past few months it confirmed its new upside on Friday with a bullish “Long White’ candlestick. Reading from the indicators, the RSI and Stochastic are still moving upward while MACD is trending sideways above the zero level line. We believe the stock will face some resistance at RM1.23 but we are looking forward to the RM1.34 price level if the share price manages to break the first resistance level. Investor may look to buy into the stock at RM1.20 or lower, with the support level located at RM1.13.

Source: Kenanga