Muar Ban Lee Group (MBL) – Strong Support Spotted

With CPO price now maintaining well above the RM4,000 level, we are seeing positive momentum from several plantation stocks, including INNO (6262), JTIASA (4383), TAANN (5012), and many more. MBL, positioned as the beneficiary of the booming palm oil industry, is seeing consolidation in the price range of RM0.410 to RM0.450, should the company’s share price maintain above RM0.420 for the next few trading days, we expect MBL to challenge R1, which is RM0.450 level and R2, the RM0.480 level.

We see MBL as a good trading opportunity as for now.