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Stock Analysis with ChartNexus
 
Malaysia

Latexx
 

Once again rubber-related stocks have been leading the on-going rally in the general market. Interestingly, Latexx, one of the well-know major rubber-stocks had been lagging behind Supermx, Topglov and Kossan. Based on the current price action of Latexx, it appears that it is showing sign of a possible upside revival as it has started to develop higher lows since 11th February 2010. In addition, the MFI oscillator that measures the momentum of price and volume continues to trend up steadily. The signal from MFI suggests a build-up in the accumulation of Latexx by market participants which may lead to an imminent upswing in the share price. A break above the immediate resistance at RM4.10 may see a rally to test the next resistance at RM4.95 and above it may open up scope for a further upside target of RM5.95. However a violation below the immediate support at RM3.53 may damage the bullish tone to see a possible sell-off towards the next support at RM2.80.

 
 
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