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sahamdanlatte
Jan 11, 2024 1:17 AM

[MRCB]: Riding the construction wave Long

MALAYSIAN RESOURCES CORPORATION BERHADMYX

Description

Price has tested resistance formed since September 2023 with some low volume selling on 9.1.2024.
Long & short term moving averages have aligned.
MACD shows bullish momentum.
Between Oct to Nov 2023, prices have tested support with low volume as well as two shakeouts.
Wyckoff accumulation pattern also appears to near its end with possible SOS.
If price manage to break the resistance again, this will go to a new 52 week high definitely and enter the mark up phase.

Trade active

Looking good.
Comments
Trview2018
What is causing MRCB's rapid price rise right now? Any good news..??
sahamdanlatte
@Trview2018 No idea. I just trade what I see on the chart. Any good news is a bonus & a sign to take some profits.
Trview2018
@sahamdanlatte, 😁👍
Trview2018
What is the new 52 week high? Thank you for the analysis.
sahamdanlatte
@Trview2018 0.555. Broke this already but hopefully can get a strong close at 5pm.
Trview2018
@sahamdanlatte, Thank you for the update.
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