Malaysian Pacific Industries was testing the RM11.80 level in its latest session. With a moderate RSI level, it may trend higher above this point with a target price of RM12.70, followed by RM13.20. Meanwhile, it may continue moving sideways if it fails to cross above the RM11.80 mark in the near term. In this case, support is anticipated at RM11.00, whereby traders may exit on a breach to avoid the risk of a further correction.

Trading Call: Buy on further rebound above RM11.80

Target: RM12.70, RM13.20 (time frame: 3-6 weeks)

Exit: RM11.00

Source: AmInvest Research - 16 Oct 2018