KUALA LUMPUR: CIMB Equities Research has a Buy on Multi-Purporse Holdings Bhd (MPHB) after it broke out of its ascending triangle pattern on Wednesday, April 20.
The research house said on Thursday that renewed buying momentum should set in today, pushing prices towards the next resistance at RM3.22 and RM3.42.
'MACD continues its ascending trend, suggesting that this rally still has legs. Meanwhile, RSI is also above the 50pts mark.
'Aggressive traders may start to nibble now to ride this breakout run. Always put a stop at below RM2.92. Falling below RM2.80 would spell the end of its rally from March,' it said.
The research house said on Thursday that renewed buying momentum should set in today, pushing prices towards the next resistance at RM3.22 and RM3.42.
'MACD continues its ascending trend, suggesting that this rally still has legs. Meanwhile, RSI is also above the 50pts mark.
'Aggressive traders may start to nibble now to ride this breakout run. Always put a stop at below RM2.92. Falling below RM2.80 would spell the end of its rally from March,' it said.
No comments:
Post a Comment