Rakuten Trade Research Reports

Technical View - MCE Holdings Bhd

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Publish date: Mon, 10 Jul 2023, 08:43 AM
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MCE Holdings Bhd

  • Share price closed 2.69% lower at RM1.81 on last Friday.
  • MCEHLDG has been on a downtrend since its YTD peak at RM2.16 in April. We noticed high selling pressure over the past week despite its stronger than expected Q3FY23 financial result, thus a new support level was formed at RM1.77. Indicators are showing oversold signals hence share price may be due for a potential rebound.
  • Resistance levels are identified at RM1.88 (R1) and RM1.91 (R2).
  • On the flipside, support levels are pegged at RM1.77 (S1) and RM1.74 (S2).

Source: Rakuten Research - 10 Jul 2023

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