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Monday, January 16, 2017

Magni: Next Upleg Could Have Started

Magni broke above its "horizontal line" at RM4.38-4.40 today to close at RM4.54. If the share price can stay above the breakout level for next 1/2 day(s), Magni may continue with its prior uptrend. As noted in my recent post, Magni's financial performance has been very impressive in QE31/10/2016. Based on technical breakout, Magni - a good long-term investment- could well be a good trading BUY too.


Chart 1: Magni's weekly chart as at Jan 16, 2017 (Source: Chartnexus)


Chart 2: Magni's monthly chart as at Jan 16, 2017 (Source: Chartnexus)

Note:
I hereby confirm that I do not have any direct interest in the security or securities mentioned in this post. However, I could have an indirect interest in the security or securities mentioned as some of my clients may have an interest in the acquisition or disposal of the aforementioned security or securities. As investor, you should fully research any security before making an investment decision.

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