shahidrogers

MBSB - symmetrical wedge forming with bullish breakout likely

Long
MYX:MBSB   MALAYSIA BUILDING SOCIETY BHD
A symmetrical wedge pattern has emerged with a bullish breakout likely supported by bullish 4EMA while StochRSI is in oversold territory with a reversal signal. Fundamentally, there is positive sentiment on MBSB's recent acquisition of Asian Finance Bank Bhd as they are progressing towards transforming into a full-fledged islamic bank. It's worth noting that MBSB is also one of only two listed Islamic Banks on Bursa Malaysia, which stands to benefit from various shariah funds.

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