MY E.G. has been range-bound during recent sessions. With the momentum indicator RSI above 60%, there is a possibility it will break above the resistance of RM1.63, and move towards a target price of RM1.78 and RM1.92. Meanwhile, the immediate support is anticipated at RM1.49, whereby traders may exit on a breach to avoid the risk of a further correction.

Trading Call: Buy upon breakout above RM1.63

Target: RM1.78, RM1.92 (time frame: 3-6 weeks)

Exit: RM1.49

Source: AmInvest Research - 22 Apr 2019