KUALA LUMPUR: Shares in Mestron Holdings Bhd climbed 2% to an all-time high in early trade Wednesday on the back of a positive technical outlook for the stock. The steel pole maker rose 2.22%, or 0.5 sen to 23 sen with 34 million shares traded. So far this year, it has gained 4.5%.AmInvestment Bank Research said Mestron consolidated and touched the 22 sen resistance level. “With its RSI indicator pointing upwards, coupled with higher trading volume, there is a good chance it will experience a technical breakout and head towards the short-term target price of 23.5 sen, followed by 24.5 sen. “The downside support is marked at 20 sen. Traders are advised to exit on a breach to avoid further losses,” it said. Mestron was listed on the ACE Market of Bursa Malaysia on June 18, 2019.
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