• The research house said that if a breakout occurs, the stock will likely advance towards the 52-week high level at the 29 sen resistance, followed by 35.5 sen, its highest level since April 1, 2021.

KUALA LUMPUR (Jan 4): RHB Retail Research said Avaland Bhd (formerly known as MCT Bhd) is eyeing for a technical breakout as it rebounded above the 21-day simple moving average (SMA) line, touching 26 sen on stronger trading volume.

In a trading stocks note on Thursday, the research house said that if a breakout occurs, the stock will likely advance towards the 52-week high level at the 29 sen resistance, followed by 35.5 sen, its highest level since April 1, 2021.

“Conversely, a drop below the 23.5 sen support would invalidate the bullish setup, falling below the 21-day SMA line,” it said.

Avaland Bhd​ is a strategic partner with EdgeProp START, featuring the SanderlingCasa Embun and Alora Residences developments. All Avaland​​​ homebuyers also get to enjoy rewards worth up to RM18,888. 

Looking to buy a home? Sign up for EdgeProp START and get exclusive rewards and vouchers for ANY home purchase in Malaysia (primary or subsale)!

SHARE
RELATED POSTS
  1. Inheritance tax ‘could help reduce wealth inequality’?
  2. Malaysia's TOD challenge: Bridging the policy gap
  3. BCB acquires 54.7-acre Kluang land for RM31m