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)
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, MRCB.
hi alex-based on my own crude way of tracking stocks( i am not IT savvy)i find SKPRes very interesting.Can u please comment?TQ
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