MTAG active, up 3.92% on positive technical outlook

-A +A

KUALA LUMPUR (Oct 21): Shares in MTAG Group Bhd rose 3.92% in active trade at mid-morning today following a positive technical outlook on the stock.

At 10.25am, MTAG rose 2 sen to 53 sen with 30.13 million shares traded.

RHB Retail Research said MTAG may rise higher after it breached above the 50 sen threshold.

In a trading stocks note today, the research house said the stock ended last Friday (Oct 18) at its highest close in more than three weeks, thereby enhancing the positive sentiment.

"A positive bias may emerge above the 50 sen level, with an exit set below the 43.5 sen threshold.

"Towards the upside, the immediate resistance is at the 55 sen level. This is followed by the 60 sen level," it said.