Chart 1: MISC's weekly chart as at Jun 18, 2015 (Source: ShareInvestor.com)
From the monthly chart (Chart 2), we can see that MISC has been rising with the 10-month SMA line acting as its uptrend line. The RM8.00 support is very critical for the continued uptrend of this stock.
Chart 2: MISC's monthly chart as at Jun 18, 2015 (Source: ShareInvestor.com)
MISC is at an inflection point. It must recover back above the RM8.00 mark. As at 11.15am this morning, it is trading at RM8.03-8.04. Hopefully, MISC will stage a decent rebound from here. For the brave heart, you might consider a trading BUY with a stop loss just below RM8.00. My longer term rating remains unchanged: SELL INTO STRENGTH.
Note:
In
addition to the disclaimer in the preamble to my blog, I hereby confirm
that I do not have any relevant interest in, or any interest in
the acquisition or disposal of, MISC.、
MISC (3816) - MISC: Uptrend Under Threat
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