Judging from the chart, despite magni is on an uptrend, the volume has been on the down trend, showing a decreasing interest since January 2017.
RSI is kept at above 50, showing a general buying interest. However, there is a downward divergence showing a possible reversal of the uptrend since January 2017.
The support for the lower trend line is at RM4.95. Once this level is broken with significant volume, it could signify a change in trend, and support RM 4.61 and RM 4.36 level.
Do take note that the quarterly result is expected to be announced soon. If the result is good, it could be a catalyst to push the price further up to the next resistant at RM 5.45.
Disclaimer: The above analysis is personal opinion and for reference only. Trade at your own risk. The author will not be liable for all loss arise from trading based on the above comments.
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