Friday 21 Jun 2024
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KUALA LUMPUR (April 2): RHB Retail Research said Master Tec Group Bhd is poised to resume its upward trajectory after rebounding from the 21-day simple moving average (SMA) line on Moday — it recaptured the RM1 level following a recent pullback.

In a trading stocks note on Tuesday, the research house said that sustained bullish sentiment above this level is anticipated to propel the stock towards its previous all-time high of RM1.19, with potential further gains into the uncharted territory near RM1.50.

“However, a fall below the 88.5 sen support level would increase the risk of a reversal towards a downtrend, particularly if it falls below the SMA line,” it said.

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