MMC Corporation inched above the RM0.93 level in its latest session. With a healthy RSI level, a bullish bias may be present above this mark with a target price of RM1.08. Meanwhile, it may continue moving sideways if it dips back below the RM0.93 mark in the near term. In this case, the immediate support is anticipated at RM0.85, whereby traders may exit on a breach to avoid the risk of a further correction.

Trading Call: Buy on further rebound above RM0.93

Target: RM1.08 (time frame: 3-6 weeks)

Exit: RM0.85

Source: AmInvest Research - 17 Jan 2019