Muhibbah Engineering (M) Bhd (5703) – Set for Stronger Recovery

Complementing the positive view on Powertechnic is Muhibbah Engineering (M) Bhd (5703), another name highlighted by Public Investment Bank for its recovery prospects.

The counter is demonstrating building strength in both momentum oscillators and broader trend direction, indicating that a more robust rebound could be underway.

Muhibbah Engineering

Watch these critical price points:

Immediate resistance at RM0.585 – Sustained buying pressure that propels the share above this barrier would reinforce the recovery narrative and pave the way for additional advances.
Next resistance target at RM0.620 – Achieving this level would mark a significant step in confirming a stronger uptrend.

However, downside risk persists if the price breaches the key support at RM0.540, which would serve as an early warning of potential weakness and trigger considerations for implementing a cut-loss discipline.

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