In January, I posted on the start of MBSB's next upleg (here). From RM0.96, MBSB rose to a high of RM1.36 in May. The stock consolidated for the past 6 weeks. Today it looks like MBSB is trying to break above the horizontal resistance at RM1.36. This could be due to market reaction to the news that it has applied for BNM's approval to begin merger talk with Asian Finance Bank.
If it can break above and stay above the horizontal line at RM1.36, MBSB could be a good trading BUY. If you choose to buy into MBSB, please exercise careful discretion given the current weak market sentiment. Do not over-trade!
Chart: MBSB's daily chart as at Jun 20, 2017_11.40am (Source: Shareinvestor.com)
Note:
I hereby confirm that I do not have any direct interest in the security or securities mentioned in this post. However, I could have an indirect interest in the security or securities mentioned as some of my clients may have an interest in the acquisition or disposal of the aforementioned security or securities. As investor, you should fully research any security before making an investment decision.
http://nexttrade.blogspot.my/2017/06/mbsb-uptrend-may-continue.html
