Malakoff Corporation may soon test the RM0.935 resistance level. With an RSI level above 50%, a bullish bias may be present above this level with an immediate target price of RM0.985. Meanwhile it may continue to drift sideways if it fails to cross above the RM0.935 level. In this case, support is anticipated at RM0.89 whereby traders may exit on a breach to avoid the risk of a further correction.

Trading Call: Buy on uptrend continuation above RM0.935

Target: RM0.985 (time frame: 3-6 weeks)

Exit: RM0.89

Source: AmInvest Research - 2 Apr 2019