Mi Equipment was testing the RM2.60 mark in its latest session. With a moderate RSI level, a bullish bias may be present above this point with a target price of RM2.87, followed by RM3.22. Meanwhile, it may turn sideways if it fails to cross the RM2.60 mark in the near term. In this case, support is anticipated at RM2.35 whereby traders may exit on a breach to avoid the risk of a further correction.

Trading Call: Buy on further rebound above RM2.60

Target: RM2.87, RM3.22 (time frame: 3-6 weeks)

Exit: RM2.35

Source: AmInvest Research - 19 Nov 2018