Magni-Tech Industries shot up and formed a long white candle in its lastest session. With an RSI level above 60%, it may continue to climb above the resistance price of RM5.02. If this happens, its short-term target price will be RM5.25 followed by RM5.47. Support price is anticipated at RM4.80, whereby traders may exit on a breach to avoid the risk of a further correction.

Trading Call: Buy on continuation above RM5.02

Target: RM5.25, RM5.47 (time frame: 3-6 weeks)

Exit: RM4.80

Source: AmInvest Research - 11 Jul 2019