Chart 1: Maxis's daily chart as at Feb 23, 2010 (Source: Quickcharts)
MPHB has been in a medium-term downtrend line since October last year. An upside breakout above the downtrend line resistance at RM1.93 could also signal the continuation of the prior uptrend for this stock. MPHB closed at RM1.93 on volume of 3.0 million shares- the highest volume traded in the past 3 months.
Chart 2: MPHB's daily chart as at Feb 22, 2010 (Source: Tradesignum)
Based on the above, Maxis & MPHB could become good trading BUY candidates tomorrow.
Note: Maxis's recent high & breakout level were wrongly stated as RM5.00 earlier. It has been re-stated as RM5.50. (Hat Tip to John for pointing out the error.)
2 comments:
Hi Alex
I think you meant RM5.50 for maxis not RM5.00?
By the way is Magnum4D now a 100% subsidiary of MPHB? Magnum4D jackpot is hitting RM30m creating the largest in M'sian history if not mistaken. Will this be a catalyst to MPHB's price and a threat to BJTOTO?
Cheers
Hi John,
Thanks for pointing out the error in Maxis's breakout level. I will amend the price in the post accordingly (to avoid confusion).
Magnum is a 51%-owned subsidiary of MPHB. The big jackpot will likely to draw in more customers and would drive up Magnum as well as MPHB's earning.
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