MMAG - are we expecting rebound now?
-It has been 7 consecutive days of lower lows for MMAG.
-Next support at 665.
-OBV at 200mil, the lowest since Sep 2019, indicating high selling pressure
-it all started with some market correction, profit taking and announcement by politician to form new government
-on positive notes, current PM already secure support from Sabah poll - so impact of politic instability will vanish soon
-MMAG in news highlight such as job with ECRL, e-wallet JV with Green Packet and takeover of Bestinet - these all positive news
-technically there is no sign of trend reversal just yet, it will remain bearish until further indications otherwise
-Next support at 665.
-OBV at 200mil, the lowest since Sep 2019, indicating high selling pressure
-it all started with some market correction, profit taking and announcement by politician to form new government
-on positive notes, current PM already secure support from Sabah poll - so impact of politic instability will vanish soon
-MMAG in news highlight such as job with ECRL, e-wallet JV with Green Packet and takeover of Bestinet - these all positive news
-technically there is no sign of trend reversal just yet, it will remain bearish until further indications otherwise
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