MMS Ventures (MMSV MK) Technical BUY with +20.0% potential return Last price : RM0.25 Target Price : RM0.29, RM0.30 Support : RM0.235 Stop-loss: RM0.23 BUY with a target price of RM0.30 with stop loss at below RM0.23. Share price has gradually recovered from the low of RM0.175 and climbing along the rising trendline to above both 10-day and 21-day SMA lines. A breakout above the “cloud” on 20 Jun 14 followed by a bullish candle has created a new support level of RM0.235. Trading volume has dried up in the past four days, which implies selling pressure is easing, which in our view, means the stock should resume the upward movement. An uptick in the RSI and a positive reading in the MACD signal rising momentum which could boost share price. We expect MMSV to retest the previous high of RM0.29 and the psychological level of RM0.30 in the medium term.
correction is healthy for the stock - it has continuously rise for the past 5 sessions already so a day of pullback will be good. besides overall market is bearish. I will continue to accumulate :)
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
johnny cash
6,400 posts
Posted by johnny cash > 2014-06-27 10:02 | Report Abuse
MMS Ventures (MMSV MK)
Technical BUY with +20.0% potential return
Last price : RM0.25
Target Price : RM0.29, RM0.30
Support : RM0.235
Stop-loss: RM0.23
BUY with a target price of RM0.30 with stop
loss at below RM0.23. Share price has
gradually recovered from the low of RM0.175
and climbing along the rising trendline to above
both 10-day and 21-day SMA lines. A breakout
above the “cloud” on 20 Jun 14 followed by a
bullish candle has created a new support level
of RM0.235. Trading volume has dried up in
the past four days, which implies selling
pressure is easing, which in our view, means
the stock should resume the upward
movement. An uptick in the RSI and a positive
reading in the MACD signal rising momentum
which could boost share price. We expect
MMSV to retest the previous high of RM0.29
and the psychological level of RM0.30 in the
medium term.