Magnum shot up and formed a long white candle in its lastest session. With an RSI level above 50%, it may continue to climb above the resistance price of RM2.77. If this happens, its short term target price will be RM2.89 followed by RM3.00. Support price is anticipated at RM2.60, whereby traders may exit on a breach to avoid the risk of a further correction.

Trading Call: Buy upon breakout above RM2.77

Target: RM2.89, RM3.00 (time frame: 3-6 weeks)

Exit: RM2.60

Source: AmInvest Research - 14 Aug 2019