Sep 19, 2013

Malaysia Pacific Corp – Stock To Watch

Malaysia Pacific Corp Bhd (stock code 6548) MPCorp – RM0.44.

MPCorp Daily Chart (click to enlarge):mpcorpChart 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.