AmInvest Research Reports
Stocks on Radar - MBM Resources (5983)
AmInvest
Publish date: Mon, 13 May 2019, 09:14 AM
AmInvest
0 9,057
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All materials published here are prepared by AmInvest. For latest offers on AmInvest trading products and news, please refer to: https://www.aminvest.com/eng/Pages/home.aspx
Tel: +603 2036 1800 / +603 2032 2888
Fax: +603 2031 5210
Email: enquiries@aminvest.com
Office Hours
Monday to Thursday: 8:45am – 5:45pm
Friday: 8:45am – 5:00pm
(GMT +08:00 Malaysia)
MBM Resources has been consolidating sideways during the last few sessions, with an immediate resistance level of RM3.08. With an RSI above 50%, it may break above the resistance level and move towards the target prices of RM3.32 and RM3.54. Meanwhile, it may trend lower if it fails to break the resistance in the near term. Support is anticipated at RM2.86, whereby traders may exit on a breach to avoid the risk of a further correction
Trading Call: Buy upon breakout above RM3.08
Target: RM3.32, RM3.54 (time frame: 3-6 weeks)
Exit: RM2.86
Source: AmInvest Research - 13 May 2019
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