Mestron Holdings Bhd – Well Supported - Critical investment

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Author: Lai_invest | Latest post: Sat, 18 Mar 2023, 10:01 PM

Mestron Holdings Bhd – Well Supported

Author: Lai_invest | Publish date: Sat, 18 Mar 2023, 10:01 PM

Steel pole manufacturer Mestron Holdings Bhd (MESTRON) was well-supported in the RM0.400 – RM0.405 range, which had been withstanding the downward pressure for the past few trading days.

We still see MESTRON holding its mid and long-term uptrend as long as the share price was supported beyond cardinal support level of RM0.400, where traded volume SHOULD maintain at least at the current level.

SP: RM0.400

RS: RM0.420, RM0.435

TP: RM0.445

Rating: BUY @ RM0.400/RM0.395

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