MAA deserves a close watch

I’ve recommended a BUY on MAA on December 4, 2006 when the share was trading at RM1.82. It had then gone up to a high of RM2.00 before dropping back to a low of RM1.70. This stock is worth watching in the near term because I believe it may be poised for another upswing. If the stock can break above RM1.83/85, the upswing would have started. This round the stock may go as high as RM2.30 to 2.50. On the other hand, the stock may consolidate a bit longer. In which case, its support would be at the RM1.73/75 level.

So, you can buy MAA on the breakout level of RM1.83/85 or, on weakness, at the RM1.73/75 level.

Chart: MAA's daily chart as at Jan 8