Mitrajaya Holdings (MHB MK) Technical BUY with +17.3% potential return Last price : RM0.895 Target Price : RM0.935, RM1.05 Support : RM0.825 Stop-loss: RM0.820 BUY with a target price of RM1.05 with stop loss placed at below RM0.820. The stock has consistently advanced along the steeper trendline since 8 Apr 14 as share price peaked at RM0.935. As MHB retraced lower, it has established support at RM0.825 and a gradual recovery from this level has led share price to rise above both the 10-day and 21-day SMA lines, which in our opinion indicates a continuation of the recent uptrend. The significant dive in trading volume last week signalled an easing in selling pressure and given the emergence of fresh buying interest last Thursday, MHB should be back on its bullish route. An uptick in the RSI largely suggests improving momentum. As such, we peg our medium-term target based on X to X projection of the trend volatility at RM1.05.
I noticed that the MACD-Signal line positive crossover has happened to Mitra. So I have collected more on 0.915. Should it breaks 0.935 it should move towards 1.00. I think it has very high chance to break 0.935 today.
today should be still red with smaller size candle, smaller volume. (if continue yesterday trend). There's opportunity to grab price at 0.850-0.855, i suppose.
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stainlyho37
2,275 posts
Posted by stainlyho37 > 2014-06-16 09:11 | Report Abuse
break 0.90...