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)
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2 comments:

  1. AnonymousWednesday, July 27, 2011 5:04:00 PM

    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.

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  2. Alex LuMonday, August 01, 2011 4:18:00 PM

    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.

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