MUIPROP attracted investors’ interest due to its inherent value. The
share price rose 8 sen yesterday and closed at RM0.49. Chart-wise, the
share price has broken out from the strong resistance of RM0.425
supported by strong daily trading volume. Key indicators (MACD, RSI and
Stochastic) are trending upwards, suggesting the strong buying
interests. Moreover, the share price is well supported
by all SMAs. We reckon that coupled with strong buying momentum, MUIPRP could possibly rally to RM0.52 (R1) soon.
Source: Kenanga
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