SupportLine: Maybulk, D&O Green Tech, Freight Management

Maybulk 170621

Malaysian Bulk Carriers Bhd is extending a steep short-term uptrend at the beginning of this month.Going by the steady advance, the stock is set to hit an immediate resistance of 75 sen, which in crossing could see the share price return to its May peak of 85.5 sen.

The technical indicators are showing overbought signals given the recent advance although the strong momentum suggests continued increase.