Malayan United Industries was testing the immediate resistance level of RM0.19 in its latest session.With the momentum indicator RSI above 60%, there is a possibility it will break the resistance and climb towards RM0.22, followed by RM0.245. If it fails to cross the RM0.19 level, it will continue to move sideways. Support price is anticipated at RM0.165 whereby traders may exit on a breach to avoid the risk of a further correction.

Trading Call: Buy upon rebound above RM0.19

Target: RM0.22, RM0.245 (time frame: 3-6 weeks)

Exit: RM0.165

Source: AmInvest Research - 2 May 2019