Monday, June 23, 2014
MRCB: Time to go!
MRCB broke above its downtrend line at RM1.55 in February. After the breakout, the stock moved sideways between RM1.52 & RM1.68. Today, MRCB went above the RM1.68 level to touch an intra-day high of RM1.72.
If MRCB can stay above the RM1.68 level, the stock is poised to start its next upleg. Based on this, MRCB could be a trading BUY or a medium-term investment.
Chart: MRCBs weekly chart as at June 19, 2014 (Source: Tradesignum)
In addition to the disclaimer in the preamble to my blog, I hereby confirm that I do not have any relevant interest in, or any interest in the acquisition or disposal of, MRCB.