MI is forming a downtrend chart after the strong rising from January 2021 till February 2021.
- The share price has been traded below EMA-20 days and MA-70 days.
- The recent downtrend has broken its support at RM 4.8, RM 4.4 and RM 4.1.
- The next strong support is RM 3.7 and RM 3.4, failure to find support at this level may accentuate the bearish move.
- RSI is showing the oversold condition.
- As mentioned before, we took profit slowly at RM 5.4, RM 5, RM 4.8 and took profit on all remaining 50% shares at RM 4.65 after the quarter result is released.
- The share price is moved in my expected direction. Please monitor closely as the share price might reach the entry point for the next plan.
Below was our previous sharing in public channel:
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https://klse.i3investor.com/blogs/bursatrade/2021-03-07-story-h1542063647-MI_5286_Chart_Analysis_and_Our_Plan.jsp
