MPI removed RM6.82 successfully before closing at RM7.07 on Friday. MPI kicked off a strong rally from below the RM5.47 level in early Jan 2010, surpassing numerous resistance levels before reaching a high of RM7.50 on the dot of the resistance of RM7.50. However, the stock consolidated in the following months to RM6.15 support area. Slowly, the stock rebuilt its momentum and finally broke out from the RM6.82 level in mid Apr. It touched a high of RM7.33 recently, before pulling back slightly to end last Friday at RM7.07. It registered a small “shooting star-like” candle on the chart to indicate mild weakness in the near term.
Malaysian Pacific Industries Berhad : An Oppurtunity To Collect On Weakness…-26/04/2010
No comments:
Post a Comment