Overall: Mixed outlook with slightly positive trend.

Trend: The stock has been in a downtrend recently but is showing signs of a potential reversal as it attempts to break above the 50-day moving average (MA). The price has also moved up from recent lows and is testing a resistance level.

Bollinger Bands: The price has recently moved from the lower Bollinger Band toward the middle band, indicating a potential bounce. However, it’s still within the bands, suggesting that volatility is present but not extreme.

Moving Averages: The price is currently between the 50-day MA and the 200-day MA, with the 50-day MA acting as a near-term resistance level. The stock would need to sustain above the 50-day MA to confirm a bullish trend.

MACD: The MACD is showing a potential bullish crossover, which could signal the beginning of an upward move. However, the histogram bars are still below zero, which indicates that the stock is still in a bearish phase.

RSI: The RSI is around 52, which is neutral. It’s not in oversold or overbought territory, which means the stock has room to move in either direction.

LATEST FUNDAMENTAL NEWS:

On 30-Aug-2024, The Edge reported that "Malaysian Resources Corp Bhd’s net profit for the second quarter surged more than fourfold to RM51.18 million from RM10.87 million a year earlier, as contribution from its construction segment doubled."

Link to the news is here.

Enjoyed this analysis? Get exclusive insights and in-depth stock picks by subscribing to my Substack! Don't miss out on market trends—join today for more detailed breakdowns straight to your inbox! Click on the link below to read my articles in Substack.

Unveiling Market Gems: Your Guide to Beating the Market (substack.com)

MRCB: Bouncing Back - Can It Sustain The Recent Momentum? (substack.com)