Star reported that advertiser in the country boosted their media spending by 15.8% to a record RM7.66bil last year (excluding pay TV), according to The Nielsen Company Malaysia. Analysts also forecast the same result, if not better, for year 2011.Among others, MEDIA and MEDIAC are two main companies listed on the board.
Based on charts, prices of MEDIAC (0.885) have formed a triangular pattern with 3 downward supports all printed at 0.875. It will resume its uptrend if price can break through 0.89 with increasing volume. Its total volume was 0.39m, last Friday.
Support: 0.875
Resistance: 0.89, 0.93…
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