Technical Stockpick -  Master Tec Group Bhd
Fri, 29-Nov-2024 06:28 am
by Amir Hamdan • Apex Research

MTEC (0295)
Last Price (RM)
1.20
Resistance (RM)
R1 — 1.28 / R2 — 1.35
Support (RM)
S1 — 1.17

Technical Commentary: 

Price has turned into a consolidation pattern since peaking in June 2024. Trading range appears to have narrowed in recent weeks as the consolidation tightens. Thereafter, price remains largely supported above EMA20 and gradually marches higher. For now, traders may monitor for a potential breakout above RM1.23 to target next resistances located at RM1.28-RM1.35. Downside wise, support is pegged at RM1.17.

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Market Mover
Settlement Rates
Currency Buy Rates (RM) Sell Rates (RM)
USD 4.436869 4.470612
EUR 4.675505 4.679374
CNY 0.611103 0.611560
HKD 0.570272 0.574102
SGD 3.296965 3.319254