MBSB Cup & Handle Formation in the MakingShort term MBSB could be heading to support area around 0.700
If Cup and Handle pattern forms, TPs are the greenline marked on the chart.
Dividends have been good from this stock, plus it's a Banking stock.. with interest rates stable and potentially going down from here, loans are going to be cheaper and banks profit will grow Q-on-Q. It's also one of the only two Banking stocks that are Shariah Compliant.
I am looking to add position at 0.690 (support area) and keep it on my portfolio long term.
MBSB trade ideas
MBSB. AlgoSignal reveals potential uptrendSeveral indicators within my algorithmic system are signaling a potential uptrend. These include:
- Increased volume: Activity is picking up, suggesting growing interest and potential momentum.
- Mid- to long-term uptrend: Both the 50-day and 150-day exponential moving averages are pointing upward, indicating a sustained positive trajectory.
These factors collectively point towards the possibility of an upward movement in the near future
MBSB>> stochastic OB but price still unable to breakthrough. Hence, be careful of pullback.
>> If continue the rally, possible for it to break, 760?
>> So far nothing special for this counter. won't be big gain ATM.
Let see....
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Short Term BullishThere was a significant breach above downtrend line from Feb 2018, pulled back from the resistance in June 2020, however made a return move above the downtrend line, closed with a Bullish Engulfing candle yesterday. If it manages to close above 0.77, the doors will be open towards the 1.618 Fibo level at 0.955. On the flipside, if it drops below 0.57 it may fall lower to previous support at 0.48.
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