KUALA LUMPUR: Malaysia Building Society Bhd is set up for a technical breakout after yesterday's strong volume bounce off the ascending 21-day simple moving average line, according to RHB Retail Research.
The research house said in a trade equities note on Tuesday that the counter should trend upward and target the 82 sen resistance, then the 90 sen mark, if a breakout over the 78 sen immediate resistance occurs.
"Meanwhile, falling below the 75 sen immediate support will nullify the bullish setup," it said.