Mitrajaya Holdings has been range-bound during recent sessions. With a neutral RSI level, there is a possibility it will break above the RM0.37 resistance level and move towards a target price of RM0.42. It may continue trending sideways if it fails to cross the RM0.37 mark in the near time, In this case, the immediate support is anticipated at RM0.345, whereby traders may exit on a breach to avoid the risk of a further correction.

Trading Call: Buy upon breakout above RM0.37

Target: RM0.42 (time frame: 3-6 weeks)

Exit: RM0.345

Source: AmInvest Research - 19 Jul 2019