Malakoff Corporation surged past the resistance price of RM0.865 in its latest session with higher trading volume. With the momentum indicator RSI above 60%, this short-term momentum could reach target prices of RM0.925 and RM0.97. Meanwhile, it may lose its bullish momentum if it dips below RM0.865. In this case, support is anticipated at RM0.83, whereby traders may exit on a breach to avoid the risk of a further correction.

Trading Call: Buy upon breakout above RM0.865

Target: RM0.925, RM0.97 (time frame: 3-6 weeks)

Exit: RM0.83

Source: AmInvest Research - 24 Jun 2019