Malakoff Corporation crossed the RM0.885 level in its latest session. With a moderate RSI level, a bullish bias may be present above this point with a target price of RM0.99. Meanwhile, it may continue drifting sideways if it falls back below the RM0.885 mark in the near term. In this case, support is anticipated at RM0.83 whereby traders may exit on a breach to avoid the risk of a further correction.

Trading Call: Buy on further rebound RM0.885

Target: RM0.99 (time frame: 3-6 weeks)

Exit: RM0.83

Source: AmInvest Research - 20 Feb 2019