MHB has recovered very well after it hit a low of RM3.05 on May 31. However, it will be coming up against strong resistance at RM4.45-4.50. The resistance will come from the downtrend line, RR and the horizontal line at RM4.50. Can it break through this resistance? We will wait & see.
Based on technical consideration, MHB could be a trading SELL as it approaches the RM4.45-4.50 level.
Chart: MHB's daily chart as at July 23, 2013_4.20pm (Source: Quickcharts)
Note:
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, MHB.
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