MBM Resources shot up in its recent session with higher tarding volume. With the RSI level above 70%, the bullish momentum, it may cross the RM3.36 immediate resistance and reach target prices of RM3.63, and RM3.89. It may continue to drift sideways if it fails to breaks RM3.36 in the near term. In this case, support is anticipated at RM3.10, whereby traders may exit on a breach to avoid the risk of a further correction. 

Trading Call: Buy upon breakout above RM3.36

Target: RM3.63, RM3.89 (time frame: 3-6 weeks)

Exit: RM3.10

Source: AmInvest Research - 25 Jul 2019