Malaysia Marine and Heavy Engineering Holdings has moved above the RM0.82 resistance level in its latest session. With an RSI level above 50%, the bullish momentum may continue towards the target price of RM0.895. Meanwhile, support is anticipated at RM0.78 whereby traders may exit on a breach to avoid the risk of a further correction.
Trading Call: Buy on further rebound above RM0.82
Target: RM0.895 (time frame: 2-4 weeks)
Exit: RM0.78
Source: AmInvest Research - 3 Apr 2019
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