MPHB Capital (MPHB MK) Technical BUY with +15.0% potential return Last price : RM2.35 Target Price : RM2.57, RM2.72 Support : RM2.22 Stop-loss: RM2.18 BUY with a target price of RM2.72 with stoploss below RM2.18. Following our earlier BUY call on 19 May 14 at the price of RM1.99, MPHB’s share price hit our initial target of RM2.27 on 8 Jul 14. However, the share price consolidated lower thereafter as profit-taking activity dragged MPHB relatively lower. A new support has been established at RM2.22 after yesterday’s breakout from the recent high of RM2.34. Moreover, yesterday's surge was supported by a higher trading volume, signaling the creation of a new up-leg. Additionally, a bullish crossover in both MACD and Stochastic signifies a strong momentum which may lift the share price higher in the near term. We expect upward continuation from here onwards as we peg our next target at the 1.61x Fibonacci extension level of RM2.72. Expected Timeframe: 2 weeks to 2 months
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....
ahpan80
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Posted by ahpan80 > 2014-07-03 15:03 | Report Abuse
2 .22.........