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Wednesday, August 1, 2012

ZLBT Random Stock Pick >>> MAHSING (8583) 01 Aug 2012

On 31 July 2012, MAHSING broke from its 3-month historical high. The price of MAHSING has increased by more than 0.5% while it is observed that there is a sharp increase in volume of more than 300% as compared to the average volume traded over the past 50 days. At 2.23, the stock is trading near its 6-month historical high. It is also observed that the MACD line is above the signal line indicating some short-term price strength.
Technical Comments: A breakout on close above the 7/3/12 peak of RM2.30 would lift MahSing towards upside targets of RM2.49 (123.6%FP), RM2.61 (138.2%FP) and RM2.70 (150%FP) in the medium-term. Immediate support is at RM2.11 (76.4%FR).


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