Highlights / Stock Picks of the Day - Malaysian Airline System Berhad

Malaysian Airline System’s ("MAS") share price closed at RM1.00 on Monday to trade at its par value following its results last month that showed a 6^th  consecutive quarterly loss. Contrary to its fundamentals, the share price may have some upsides from a technical  perspective. The share price appears to be leveling off at the psychological RM1.00-mark, indicating that the selling pressure may be alleviating. The MACD is also sporting signs of bullish divergence to reflect the loss of selling momentum and should a rebound be on the cards, the upside is likely to be capped at RM1.08. However, the downside is also  likely to be limited to the RM1.00 level, which is also the stop-loss level for traders.

Source: Kenanga