Malaysia Pacific Corp Bhd (stock code 6548) MPCorp – RM0.44.
MPCorp Daily Chart (click to enlarge):Chart wise:
MPCorp’s candles have pierced its downtrend line, but they only rose strongly two days ago and tested the RM0.475 level. The level has yet to be breached, leading to its overbought indicators to slip slightly, but still above their respective upper limit line. Meanwhile, the outlook has turned weaker as a consequence and for now, we are neutral on the stock.
If the RM0.475 level is penetrated, however, then there are renewed trading buy opportunities. Above RM0.475, the other resistance is located at RM0.495. The support on the other hand is at RM0.40.
by Mercury Securities
MPCorp is principally in the business of letting of investment properties and investment holding whilst the principal activities of the subsidiary companies are Construction, projects and property management, engineering and trading.