Mega First Corp rises 6% on positive technical outlook

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KUALA LUMPUR (March 27): Shares in Mega First Corp Bhd (MFCB) rose 6.01% in early trade this morning following a positive technical outlook.

At 9.10am, MFCB rose 25 sen to RM4.41, valuing it at RM2.03 billion.

RHB Retail Research said MFCB may rebound higher after it continued holding above the RM3.75 support.

In a trading stocks note today, the research house said yesterday’s candle can be viewed as a continuation of the bulls extending the buying momentum from March 25’s upside gap.

“An upbeat bias may emerge above the RM4.00 level, with an exit set below the RM3.75 mark.

“Towards the upside, the immediate resistance is at the RM4.50 level, followed by the RM4.90 threshold,” it said.

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