This is repeated signal, as the previous signal was triggered on 26 Dec 2023 when the share price was RM0.220
The support level for M&G is RM0.220, but a safer stop loss would be RM0.195, which is also the previous equilibrium support.
The resistance level for M&G is RM0.250, followed by RM0.275, but the target price is set to RM0.270 to ensure a good...
- BULLISH MOMENTUM BUILDING
- ASSET CLOSE TO BREAKING OUT OF DOWNTREND
- PRESSURE BUILINDG AT RESISTANCES FOR STRONG MOMENTUM INTO XMAS/EARLY NEW YEAR.
MG currently belongs to the Top 100 most (monthly) volatile stocks, and is so within very healthy boundaries and calculable formations. Those looking for a low risk short-trade, this is it. Smooth sailing to $10 or lower within 2-4 months.
Formation: Left-handed closing wedge (failed)