Wednesday, July 27, 2011

MRCB- poised for the next upleg?

MRCB may have a bullish breakout above the horizontal line at RM2.37-2.38, albeit on relatively thin volume. If it can clear above the psychological RM2.40, I believe the next upleg would commence.

MRCB is expected to tie-up with its main shareholder, EPF to develop the 3300-acre land located in Sungai Buloh which belongs to Malaysia Rubber Board. Negotiation for the sale of the land is still on-going & it is expected to be finalized by this year-end (here & here).


Chart: MRCB's daily chart as at July 27, 2011_2.50pm (Source: Quickcharts)

2 comments:

Anonymous said...

Hi bro. Please comment on HEXAGON - Malaysia the richest man Robert Kuok company. I saw this Hexagon break out the strong resistance at 37sen. Today both volume and price increase. Can enter now and what is the target price ?? Thx.

Alex Lu said...

Hi wong

I did not read about Robert Kuok buying into HEXAGON. If so, it should be positive for the stock. As at now, the stock is still in a downtrend.