OSK Research: Technical outlook for Maybulk bearish

Wednesday, July 6, 2011

Maybulk Weekly Chart

KUALA LUMPUR: OSK Research said MALAYSIAN BULK CARRIERS BHD []’s (Maybulk) share price has been dropping rather quickly of late after having experienced two major technical breakdowns in the last three months.

It said on Wednesday, July 6 both the stock’s near-term and mid-term technical outlooks are firmly bearish at the moment.

“We have identified three strong support levels which may be preventing its share price from falling further. These are the RM2.09, RM1.93 and RM1.78 levels,” it said.

OSK Research said however, the stock has yet to exhibit any signs of bottoming out. To the upside, there is immediate resistance at the RM2.29 level, followed by the RM2.36 level.


Post a Comment

Related Posts with Thumbnails

About This Blog

To learn better Bursa Malaysia Stock Market & build up My Portfolio.

Current stock in my portfolio:
1) Hupseng
2) Glomac
3) Masteel
4) Supermax
5) Cocoland
6) Xinquan

Unit Trust Price


  © Blogger template On The Road by Ourblogtemplates.com 2009

Back to TOP