MPHB recorded a “piercing line” candle on Friday. The share price of MPHB reached a major resistance zone of RM1.80 – RM1.97 region in Sep 2009, after a successful rally from Mar 2009’s level of below RM1.00. However, the stock took six months to neutralise the selling pressure, before it can pierced through RM1.97 and launched a steep rally to a fresh multi-year high of RM2.48 in Apr 2010. Thereafter, buying support diminished and the stock fell into a sliding trend. It lost RM2.20 and touched RM1.97, before recording a “piercing line” candle on the chart on Friday, indicating a potential technical rebound this week.
Mandarin Version - Multi-Purpose Holdings Berhad : Potential Reversal Of The Recent “Sell” Mode… - 10/5/2010
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