Maxis & MPHB- stocks to watch

Maxis has a strong rally today. It closed at RM5.49 after making a high of RM5.00. Volume traded was above average at 9.6 million units. The RM5.00 level is the high for this stock since its listing on November 19. An upside breakout above RM5.00 could signal the beginning of the uptrend for Maxis.


Chart 1: Maxis's daily chart as at Feb 23, 2010 (Source: Quickcharts)

MPHB has been in a medium-term downtrend line since October last year. An upside breakout above the downtrend line resistance at RM1.93 could also signal the continuation of the prior uptrend for this stock. MPHB closed at RM1.93 on volume of 3.0 million shares- the highest volume traded in the past 3 months.


Chart 2: MPHB's daily chart as at Feb 22, 2010 (Source: Tradesignum)

Based on the above, Maxis & MPHB could become good trading BUY candidates tomorrow.